The government asked businessmen to consider investing in Northern Mindanao’s agriculture and logistics sectors.
Department of Trade and Industry (DTI) Assistant Secretary Ceferino S. Rodolfo made the pitch during a recent forum where updates on the Asean Economic Community and the country’s “European Strategy” were discussed.
“Opportunities abound for growth and investment in fields such as agriculture, food processing, service-related industries and trade infrastructure services,” Rodolfo said in a statement.
He said the Philippines has already created open market access for industries and small and medium enterprises (SMEs) through tariff-free trading across the borders of Asean and for more than 6,000 products for export to Europe. Rodolfo said Northern Mindanao “is at the cusp of a breakthrough in reaping the benefits of international trade.” Rodolfo said a major element in preparing Region 10 for increased international trade is ensuring the efficiency of the region’s logistics network.
The DTI revealed that the Mindanao International Container Terminal Services Inc. (MICT) in Cagayan de Oro has plans to expand both its berth length and container yard to help ease port congestion in Metro Manila. MICT has a capacity of 270,000 20-foot container vans.
“Other major ports outside of Metro Manila will be the gateway of our local SMEs and industries to their foreign markets, while at the national level, the continuing initiatives to ease port congestion will improve country productivity and allow us to deftly adapt to dynamic global market needs,” Rodolfo said.
“Advancing logistics is one of the key factors to maximize the benefits of international trade. A predictable and secure logistics network will help us realize the gains from regional economic integration,” he added.
The DTI said it has also been working with other international organizations to identify specific interventions to assist the local SMEs in building capacity for production, packaging and promotion.
Rodolfo said the government is helping businessmen in Northern Mindanao via its Shared Service Facility project. Recently, the department partnered with the Hineleban Foundation Inc. to acquire post-harvest and processing equipment for their famous coffee produce.
Northern Mindanao is composed of nine cities and five provinces, and is considered as the largest regional economy in the island of Mindanao.