Mindanao Daily NEWS BUSINESS . ECONOMY . CORPORATE . BANKING Your Mindanao-wide Business Newspaper
Volume III, No. 076
Editor : Cheng Ordoñez
Wednesday
See story Page 12 August 20, on 2014
Economic Dynamism drives CDO as VisMin’s Most Competitive City C
By Mike Baños, Editor-at-Large
AGAYAN de Oro City – The City of Golden Friendship celebrates this Fiesta Month its citation as the Philippines Most Competitive City outside Metro Manila and Numero Uno in the regions outside the Metropolis. Cagayan de Oro has been ranked by the National Competitiveness Council (NCC) as the second most competitive city in the Philippines in 2014 after Makati City, the country’s premier financial district. It also ranked second in infrastructure, fifth in government efficiency, and ninth in economic dynamism. Although it only ranks 9th in the country’s Top 10 cities in economic dynamism, it is the lynchpin which drives Region X as the fastest growing region in Mindanao with an average annual growth rate of 5.8 percent over the last 1o years, figures from the National Economic Development Authority (NEDA) Region X office shows. The NCC’s “Economic Dynamism” scores were based on data on the size and growth of the local economy as measured by business registrations, capital, revenues, and occupancy permits; capacity to generate employment; cost of living; cost of doing business; financial deepening; productivity; and presence of business and professional organizations. With its sustained economic growth and the leveling up of its competitiveness recently, the possibility of Cagayan de Oro becoming Mindanao’s new business and financial center is no longer remote, according to Cayetano Paderanga Jr., former NEDA director-general and a noted economist,
referring to the city’s possible status as Mindanao’s new economic leader in the near future. He said things are looking good for the city, as it is experiencing positive growth. Paderanga added that with a local economy that keeps on growing, “the prospects for the next three years looks promising, it could extend to five or even seven years. And if we improve the governance, then the growth rate can even go higher.” “Cagayan de Oro is a very thriving regional economy,” he said, adding that the city has most of the fundamentals covered: peace and order, stable power, very good human resource and enough investors to keep the local economy afloat. Led by Cagayan de Oro, Northern Mindanao is the runaway domestic trade leader in Mindanao, its PhP 57.9-billion (2010) accounting for 11.3 percent contribution to the Philippines (Commodity Flow, NSO) and the leading agriculture producer in Mindanao for the period 2010-2012 (National Accounts, NSCB). “It is the largest producer of pineapple in the country, the second largest producer of bananas and corn, the third largest producer of coconut and chicken, its fourth largest producer of cattle, its fifth largest producer of swine and the ninth See drive, page B7
Mayor Oscar S. Moreno raises the award for Cagayan de Oro City’s ranking as #2 in Overall Competitiveness in the Philippines for 2014 during the 2nd Regional Competitiveness Summit held August 27, 2013 at the PICC, Manila. Also in photo are (L-R) National Competitiveness Council Private Sector Co-Chair Bill Luz, City Welfare Officer Teddy Sabugaa, City Information Officer Maricel Rivera, City Accountant Beda Elot, DTI-X OIC Linda Boniao, Local Economic & Investment Promotions Officer Eileen San Juan, City Budget Officer Percy Salazar, NEDA Dir. Gen. Arsenio M. Balisacan and DTI Usec. Adrian S. Cristobal, Jr. (photo courtesy of NCC)
Rice ‘wastes’ help farmers’ wives become productive
plan for the site but not yet 100 percent feasible due to some hindrances. One of the challenges seen in the implementation of the project is that the area is covered by a 1999 Presidential Proclamation 85 and 2114, proclaiming the land
MIDSAYAP – A women’s group here are keeping their hands full by converting wastes into an income generating project. Rice straws, which are generally burned after harvesting, are now made profitable with farmers` wives using them as basic material for mushroom production. Following a recent Specialized Training Course on Mushroom and Vermiculture Production conducted by PhilRice in Midsayap, women in Barangays Bual Norte and Bual Sur are encouraging more farmers` wives to join them in forming an organization that will engage in mushroom commercial enterprise. “As farmer`s wife and president of a women`s group, this training is important because it will help us become mushroom producers in Midsayap,” according to Evelyn S. Pieldad, 58 years old of Barangay Bual Norte. An agriculture research showed mushroom growing is perfect in Mindanao as 2,000 edible mushroom
See slum, page B7
See rice, page B7
From Left: Dr. Ramon Neri, CEO of JR Borja General Hospital, Mr. Francisco Sarraga, Rotary Club project director, Dr. Kevin Ho, Mayor Oscar Moreno, Dr. Michael McGlynn and Dr. John Joseph McGuinness while waiting for the media to ask questions regarding the Interplast Project at the JR Borja General Hospital. The team are composed “Australian-New Zealand surgeons, who are in the city until Aug. 23, 2014, to conduct free operation to 71 beneficiaries.
3 investors eye reclamation, dev’t of Davao City slum area By Lilian C. Mellejor
DAVAO City - A Malaysian investor and two local business groups are exploring the coastal zone of the 8.8 hectare slum area in Isla Verde for reclamation to develop a new community. City Hall spokesperson
Leo Villareal said the Malaysian investor, in particular had already discussed the proposed project with Mayor Rodrigo Duterte with a total investment of P3 billion. He said the City Planning and Development Office (CPDO) has a development
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