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NEDA-10, Davao partner with Japan Consul to bring in metro investments

CAGAYAN DE ORO CITY (PIA)–The Consulate General of Japan based in Davao City, in cooperation with the NEDA Regional Offices 10 and 10, hosted the Business Webinar on Metropolitan Cagayan de Oro and Metropolitan Davao, January 22.

The webinar served as a venue for the metros to promote their development prospects and investment opportunities for the Japan business community to explore business ventures along these corridors in Mindanao.

NEDA Regional Development Group Undersecretary Mercedita A. Sombilla explained that “the role of Mindanao in national development is defined in three sectors, that is, Agriculture, Industry, and Services.” 

Mindanao’s economy is largely driven by the Industry and Services sectors, while the northern Mindanao Region holds the highest value added in the Agriculture, Fishery and Forestry sector, said Sombilla.

“Strike gold in Metro Cagayan de Oro,” opened Mayor Oscar Moreno as he presented the development prospects in the budding metropolis. The mayor bared that Metro CDO is the commercial and trade center of the region, hosting the 3,000-hectare PHIVIDEC Industrial Estate, regarded the largest in the country.

He stressed the metro’s sufficiency of life support services, as well as the accessibility of Asia’s best higher education institutions and tourism circuits. The metro continues the internationalization of its populace, putting in place good governance and harnessing partnerships with the global community. 

These assets, among others, set the metro’s favorable environment for local and foreign investments.

Cagayan de Oro Chamber of Commerce and Industry Foundation, Inc. President Ruben A. Vegafria disclosed that Cagayan de Oro City is graded Level 1 in terms of safety for visits and investments by the Ministry of Foreign Affairs of Japan. This means that Metro Cagayan de Oro is suited for business expansion, as well as leisure and tourism.

“With a well-developed infrastructure backbone, an excellent connectivity, business-friendly local government units, strong private sector, and stable law and order, we are confident that opportunities for investments in Metropolitan Cagayan de Oro and its influential areas are the best choices,” Vegafria shared.

For her part, NEDA-10 Regional Director Mylah Faye B. Cariño said, “It is with awe and pride that the Philippine-Japan economic cooperation remains strong throughout the years, the fact that Japan is the top export destination, the top investor, and the top Official Development Assistance donor of the country.”

Hence, the business webinar solidifies the alliance and partnership through more business investments in Mindanao particularly along the metropolitan corridors.  As a clinch, strike gold in Metro Davao and Metro CDO and it will benefit the whole of Mindanao, Cariño added. (NEDA10/PIA10)

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