The National Economic and Development Authority said that the Northern Mindanao Development Plan will help accelerate growth in Region 10, following its recent launch in Cagayan de Oro City.

Socioeconomic Planning Secretary Ernesto Pernia said that the Plan will help the region realize its vision to become the industrial and trade hub in Southern Philippines.

“The Northern Mindanao Plan is well expressed in the region’s vision ‘to be a major gateway and leading industrial core and trade center in Southern Philippines, with dynamic men and women enjoying equal opportunities, in sustainably harnessing its agricultural and natural resources in building a decent, harmonious, and safe environment’,” Pernia said in Tuesday’s launch.

The said regional plan will implement a strategic intervention, GATEWAY, to achieve targets set in the plan.

Crucial areas included in the intervention are Good Governance and Peace and Order; Access, Logistics and other Infrastructure; Trade, Industry and Tourism; Environment and Sustainable Development; Well-being and Improved Welfare; Agriculture and Fishery; and Education and Youth Empowerment.

Meanwhile, NEDA Region 10 Director Leon Dacanay Jr. recognized the need to address continuing challenges in the region to achieve inclusive and sustainable growth.

“Our plan outlines strategic thrusts and priorities that will address poverty and increase incomes, create resilient and sustainable communities, and build vibrant industries and business”, Dacanay said.

He added that the NEDA Region 10 is currently in talks with key stakeholders for the revival of the steel industry in the region that will help accelerate economic growth.

The region’s Gross Regional Development Product (GRDP) grew by 7.6 percent in 2016, constituting about 3.8 percent of the country’s Gross Domestic Product (GDP), and about 27 percent of Mindanao’s GRDP.

With the implementation of the Plan, the GRDP is expected to grow to as high as 8.2 percent by 2022.

The Northern Mindanao region is comprised of five provinces including Bukidnon, Camiguin, Lanao del Norte, Misamis Occidental, and Misamis Oriental.