NORTHERN Mindanao’s economy expanded by six percent in 2024 outpacing the national average but doubts whether it can stay strong in 2025 lingers.
The Department of Economy, Planning and Development (Depdev-10), formerly National Economic and Development Authority, said the regional economy outpaced the national average growth of 5.7 percent buoyed by the opening of Panguil Bay bridge and strong performances in trade, manufacturing, agriculture and construction.
“Our per capita output crossed the P200,00 mark, the third highest and sixth fastest growing economy in the country,” outgoing Regional Development Council Congresswoman-elect Imelda Quibranza-Dimaporo said.
Dimaporo said these are not mere statistics — more than 13,000 individuals have been lifted out from poverty according to statistics provided by the Department of Social Welfare and Development in region 10.
In her final State of the Region last weeked, Dimaporo said Northern Mindanao has grown into a trillion-peso economy with industry doubling its growt and tourism coming back creating 187,000 jobs regionwide.
Dimaporo said Panguil Bay Bridge in Tubod, Lanao del Norte and Tangub, Misamis Occidental the value of land has spike to P15000 to P20,000 per square meter from P5,000 per square meter before the bridge was built spurring fears that much needed irrigated rice lands will be converted into commercial use.
“We are now looking to local legislation to stop the conversion of agricultural land to commercial and real estate projects,” Dimaporo said.
Depdev-10 Director Mylah Faye Aurora Cariño said Region 10 is second in overall agricultural production with P155.28 billion in crops and fisheries.
“Our inflation rate remain at 3.7percent stabilizing family household food budgets,” Cariño said.
Cariño said the expansion and upgrading of the Laguindingan airport, the “the Golden gateway to Mindanao”, is on schedule as reported by its operator Aboitiz InfraCapital.
A MindaNews reported Aboitiz InfraCapital stating that Laguindingan Airport in Misamis Oriental is now capable of handling 337 flights a week. Laguindingan is the first successful airport public-private partnership project under the Marcos Administration.
Dimaporo said despite the robust economy of Northern Mindanao, there are challenges ahead that can affect its growth like external factors like an escalation of the Iran and Israel war and US President Donald Trump’s deportation pledge on undocumented immigrants.
She said undocumented Filipino immigrants in the US that would be affected by Trump’s deportation order would come home without available jobs or compete with the local labor sector.
Cariño said these are the challenges they would take up during the next Regional Development Council planning session sometime in October.
