DAVAO CITY – The Mindanao Development Authority (MinDA) and the provincial government of Dinagat Islands signed on Thursday, June 27, a memorandum of cooperation to establish an Economic Zones (EZs).
MAGNO (MinDA FB)
MinDA Secretary Leo Tereso Magno said in a statement that establishing EZs aims to boost economic growth by attracting investments, creating jobs, and reducing regional poverty.
He added that the MoC focuses on technical support, skills development, and information sharing.
Magno and Gov. Nilo Demerey Jr. signed the MoC.
Under the collaboration, the MinDA and the island would offer technical support and set up coordination and communication channels through the MinDA-Dinagat Islands Technical Working Group.
The MinDA chairman said the team would supervise the comprehensive planning, development, and execution of the EZs in Dinagat Islands, organize training programs, and handle policy matters crucial to their establishment.
Magno added that the partnership aligns with the MinDA’s Mindanao Agenda 2022-2028, highlighting the focus on sustainable development and economic integration across the Association of Southeast Asian Nations region.
Demerey highlighted the “i2 FAME” strategy, which targets innovation and industrialization in the fisheries, agroforestry, mining, and ecotourism sectors.
“Our goal is to transform the Dinagat Islands into a vibrant hub of economic activity and sustainable development,” Demerey said.
Magno emphasized MinDA’s role in coordinating efforts and promoting investments aligned with national development goals.
“This MoC marks a critical milestone in Dinagat Islands’ journey towards socio-economic development, leveraging strategic partnerships and integrated planning to uplift the region,” Magno said.
Magno said both parties will provide and exchange information crucial to developing the Dinagat Islands EZs, ensuring a collaborative approach to fostering regional economic growth.