The Mindanao Development Authority (MinDA) is hoping to leverage the ongoing peace initiatives in Mindanao to position the region as an investment hub for the energy and agriculture sectors.

MinDA Secretary Leo Tereso Magno said Mindanao has long struggled to attract investments in high-value sectors due to negative perceptions related to armed conflicts in the region.

Magno said recent and ongoing reforms aimed at maintaining peace in the region demonstrate that Mindanao is now ready to become a major contributor to the country’s economic growth.

“Mindanao used to be plagued by conflict. But now that peace has taken hold across Mindanao, this is the time to bring in development,” he told Manila Bulletin in an interview.

To support this initiative, Magno said the investment promotion agency (IPA) recently signed an agreement with the Board of Investments (BOI) to establish a joint work program covering investment promotion, investor facilitation, information sharing, and coordination.

The partnership includes the conduct of investment missions and forums, the joint development of ready-for-occupancy location profiles, and streamlined coordination mechanisms between MinDA and BOI to support investors.

Magno said partnering with the BOI, the country’s lead IPA, would provide MinDA with the necessary expertise to attract potential investors and development partners to the region.

He said MinDA is particularly keen on securing domestic and foreign investments to bolster Mindanao’s agriculture sector, which is considered the country’s food basket.

“We need continuous investments in agriculture. Mindanao’s advantage to other areas [in the Philippines] is its fertile and available land and active workforce,” said Magno.

These investments, he said, should enable the region’s agriculture sector to increase production to meet the demand of the growing population not only in Mindanao but across the entire country.

In addition, Magno said it is also crucial for MinDA to attract investments in the energy sector, which is a major consideration for investors, particularly those involved in advanced technologies.

“No investors will come in if there is an energy shortage,” he explained.

Meanwhile, Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said the agreement with MinDA aims to promote Mindanao as the “next big growth area for the benefit of the whole Philippines.”

He said unlocking the region’s full potential could add up to four percentage points (ppt) to the country’s sustained gross domestic product (GDP) growth.

“This partnership allows us to strategically develop industries in Mindanao, replicate success stories from other economies, and ensure long-term inclusive development,” said Rodolfo.

As a first step in the partnership, Rodolfo said the BOI’s business extension offices in Cagayan de Oro and Davao will work closely with MinDA to strengthen investment readiness and facilitate the implementation of priority projects in these areas.

Established in 2010, MinDA is the lead agency responsible for promoting and facilitating investments that support Mindanao’s socioeconomic development.