CREDIT: www.pmocdo.ppa.com.ph
At the heart of Northern Mindanao, a pivotal assembly took place on April 25, 2024, marking a significant stride towards understanding and enhancing the region's economic landscape. The Philippine Ports Authority Port Management Office of Misamis Oriental/Cagayan de Oro (PMO MO/C) was notably represented by Ms. Iris Maika Lam and Ms. Janissa Ibrahim, who joined esteemed colleagues from various government agencies and private institutions. This gathering was for the Philippine Statistics Authority (PSA) Region X's News Conference on the 2023 Economic Performance of Northern Mindanao, held at the Grand Caprice Restaurant and Convention Center in Limketkai, Cagayan de Oro. This annual event, orchestrated every last Thursday of April, serves as a beacon of transparency and progress, shedding light on the region's economic health through the Gross Regional Domestic Product (GRDP) and Gross Regional Domestic Expenditure (GRDE) metrics.
The conference commenced with a warm welcome from Ms. Sarah B. Balagbis, PSA X’s Chief Statistical Specialist, followed by an insightful video message from PSA’s Undersecretary, Mr. Claire Dennis S. Mapa, Ph.D. It was a moment of collective anticipation, as stakeholders from across the region gathered to gauge the economic pulse of Northern Mindanao.
The focal point of the conference was the presentation by PSA X’s Officer-in-Charge Dr. Janith C. Aves, CE, who unveiled the 2023 Economic Performance of Northern Mindanao. Dr. Aves highlighted that the region experienced a commendable economic growth of 5.3% in 2023, albeit a slight downturn from the 7.2% growth observed in 2022. The most striking revelation was the Gross Capital Formation of Northern Mindanao, which not only underscored the region's burgeoning investment landscape but also its pivotal role in driving economic resilience and sustainability.
This nuanced narrative of growth amidst challenges set the stage for deeper analyses and discussions among the attendees, emphasizing the importance of strategic planning and collaboration in sustaining the region's economic momentum.
The news conference was further enriched by the presence and insights of Ms. Mylah Faye Aurora B. Cariño, CESO III, the Regional Director of the National Economic and Development Authority (NEDA). Her speech, culminating in the vision of “AmBisyon 2040: Usa ka malig-on, hamugway, ug kinabuhing naay kasiguraduhan para sa tanang taga Northern Mindanao,” resonated deeply with the attendees. It was a clarion call for unity and determination towards achieving a robust, equitable, and secure future for all residents of Northern Mindanao.
Ms. Cariño's message underscored the imperative for concerted efforts and strategic initiatives that align with the region's aspirations and the broader national agenda for sustainable development.
The participation of PMO MO/C, alongside other government agencies and private institutions, reflects a shared commitment to fostering economic development not only within Northern Mindanao but across the entire Philippine archipelago. This collaborative spirit is vital in navigating the complexities of regional and national growth, ensuring that every stride made is a step towards a more prosperous and inclusive future.
The conference served as a valuable platform for dialogue and partnership, highlighting the critical role of data-driven insights in shaping policies and initiatives that propel economic progress and social well-being.
As the curtains closed on the PSA’s News Conference, the path forward for Northern Mindanao was clearer and more promising. The insights garnered from the event are instrumental in charting the course for sustained economic growth and resilience. The journey ahead is undoubtedly challenging, yet with the unwavering commitment of institutions like the PMO MO/C and the collective resolve of the region's stakeholders, Northern Mindanao is well-poised to navigate the waves of progress towards a brighter and more prosperous horizon.
The 2023 Economic Performance of Northern Mindanao is not just a story of numbers and statistics; it is a testament to the region's indomitable spirit, its capacity for innovation, and its unwavering commitment to a future marked by growth, stability, and inclusivity. As we look to the future, the lessons and insights from this conference will undoubtedly serve as a beacon, guiding Northern Mindanao towards its ambitious vision of prosperity and well-being for all.