The Philippines is no longer the “sick man of Asia” as the country’s growth has sustained its momentum, Socioeconomic Planning Secretary Ernesto Pernia on Tuesday said.
Speaking before government officials and other stakeholders at a hotel here for the launch of the Philippine Regional Roadshows as part of the Philippine Development Plan 2017-2022 on July 18, Pernia said the country’s growth trajectory “has been on a sharp consistent uptrend.”
This present environment is a perfect setting for the implementation of Philippine Development Plan (PDP), the socio-economic blueprint of the Duterte administration, he said.
The country’s economy, he said, is undergoing structural transformation or qualitative change, it is no longer [driven] by consumption but by investment, not just service sector but by industry including manufacturing.
He also emphasized that the PDP and the Regional Development Plan are people’s plan, not the members of Duterte’s cabinet’s plan and even by the National Economic and Development Authority (NEDA).
Northern Mindanao’s progress and development, he said, will make the region the perfect area to boost its economy further.
He said the regional contributes an average of 4 percent to the country’s Gross Domestic Product (GDP), and about 26 percent to Mindanao’s GRDP.
The National Spatial Strategy foresees Metro Cagayan de Oro, the region’s capital city, to become the fourth metropolitan center by 2025, based on its projected population growth and functional role as a principal gateway and transshipment hub in Northern Mindanao. It will also remain as a key educational center in the region.
To realize its vision of becoming an important converge point for socio-economic activities and as a leading industrial core and trade center in Southern Philippines, Pernia said it is imperative for Northern Mindanao to implement its strategic interventions called “GATEWAY.”
GATEWAY is an acronym that stands for Good governance, peace and order; A for Access, logistics and other infrastructure; T for Trade, industry and tourism; E for Environment and sustainable development; W for Well-being and improved welfare; A for Agriculture and fishery, and Y for Youth development and education.
“We are here today to fulfill that promise with two development plans in hand. Both the national PDP and the Northern Mindanao Development Plan 2017-2022, which were both crafted through intensive multisector and multilevel consultations to ensure inclusivity of the people in every aspect of each plan,” Pernia said.