Regional Director Leon M. Dacanay, Jr. of the NEDA Regional Office (NRO) X, and concurrent Vice-Chairperson of the Regional Development Council of Northern Mindanao (RDC X), delivered the State of the Region Address (SORA) during the Joint Meeting of the RDC X and the Regional Peace and Order Council (RPOC X) held on  May 21  in Cagayan de Oro City.

In his SORA, RD Dacanay  said that  economic growth which averaged  6.2 percent over the past three years led by the industry and services sectors, supports the region’s vision to become the leading industrial and trade center in the country.

He added that the following  macroeconomic indicators also show positive results: (a) double-digit increase in tax and customs collections; (b)  growth in investments by 55 percent  to PhP17billlion  since 2010;  and (c)   stable prices over the past five years with an average inflation rate of  4.6 percent.

He also noted the decline in Internal Revenue Allotment (IRA) dependency by local government units (LGUs), and their efforts to reduce the cost of doing business. Gains were also reported in agriculture production, asset reform through the Comprehensive Agrarian Reform Program (CARP), Pantawid Pamilyang Pilipino Program  or  4Ps coverage, and employment facilitation.

He also lauded RDC X for its endorsement  of  the  following key projects in support of  the region’s pursuit to become the major transshipment hub in Southern Philippines: (a) PhP8.6 billion Flood Risk Management Project for Cagayan de Oro River (FRIMP-CDOR);  (b) PhP14.62 billion  Laguindingan Airport Development and Operation & Maintenance Project; and (c) PhP5.86 billion Panguil Bay Bridge (PBB) project.

“I am excited about the extra miles ahead and the RDC X’s role in the grand task of region-building,” he concluded as he thanked the RDC X members for their continuing support.