Sarangani investments post 118% growth

By BEVERLY C. PAOYON

ALABEL, Sarangani (November 28, 2012) – Investments for new businesses in Sarangani has surged by 118 percent last year compared to 2010, a manifestation officials here surmised as a stimulus for the province to become a viable investment destination.

Areas in tourism, agriculture, aquaculture and manufacturing contributed to the dramatic growth in investments. Total capital input in 2010 was recorded at P276,492,980 and went up to P603,788,610 in 2011.

With vast opportunities for investments and major industries engaging in international markets, Sarangani has been able to draw on its competitive advantage in various fields locally and internationally.

On Monday (November 26), a business conference was held for the convention of businessmen, investors, micro small and medium enterprises, stakeholders and other key players geared towards familiarizing significant and incoming investment opportunities in the area.

Ryan Patrick Evangelista, Philippine Chamber of Commerce and Industry deputy secretary-general, said it is vital to address altogether “national concerns”. These, he pointed out, have been manifested in the current peace agreement and using the Association of Southeast Asian Nations (ASEAN) as a leverage in looking at opportunities in the region to finally promote Mindanao economy and improve the confidence of its investors here.

Evangelista likewise stressed it is best to benchmark starting with ASEAN “because that’s where our products are, that’s where we can capitalize on the growth for intra-ASEAN and that’s where opportunities are mastered.”

The integration framework, he said, facilitates in coming up with certain“standards or policy framework” to enable a more competitive regional integration.

In a message of Mindanao Development Authority (MinDA) chairperson Secretary Luwalhati Antonino delivered by National Economic and Development Authority Xll regional director Arturo Valero, she said the breakthrough in the peace process with the signing of the Bangsamoro framework agreement would afford opportunities for Mindanao in both domestic and national markets with Brunei Darussalam-Indonesia-Malaysia-the Philippines-East ASEAN Growth Area as the integration platform.

“Over the past several months, MinDA has pursued several discussions with private sectors and business leaders and key national line agencies in a network to foster greater understanding of the challenges and prospects as well as finding the common ground for policy directions that underpin business growth and economic development here in Mindanao,” Antonino said.

Along the course of interregional and Mindanao wide coordination, she said that many of these initiatives can have “significant impact on Sarangani peculiar economic and development challenges.”

Antonino also said that “Mindanao’s comparative advantage in agriculture and in allied industries is well acknowledged.”

With favorable climatic conditions being a dominant element of its natural capital, Antonino said agricultural and agri-business will remain the primary driver of the Mindanao economy for many years to come.

According to Antonino, among the initiatives MinDA has done was to secure budget allocation for Mindanao which she cited “was the first time and only in the Aquino administration that Mindanao has been given the highest allocation” for infra development with 40 percent coursed thru the Department of Public Works and Highways and another 40 percent by the Department of Agriculture. For more news and updates, please visit the <a href= http://www.sarangani.gov.ph/ > Province of Sarangani </a>. Come and enjoy the MunaTo Festival and 20th Foundation Anniversary of Sarangani Province on November 28-30, 2012. (Beverly C. Paoyon/ SARANGANI INFORMATION OFFICE)