John Tria

Boosting growth through mining and textiles

Examining our nation’s growth figures, it is clear that there is much more potential for growth if more investments are poured into sectors that have great potential to contribute to the growth rate, which in the first quarter of 2024 clocked 5.7 percent. Going beyond this rate will require maximizing opportunities in areas such as manufacturing and industry. I am focusing on two areas in particular, which are mining and textiles.

A thoughtful look at Northern Mindanao’s growth

In my last two columns, I focused on the Davao region's economy. This week we turn our attention to Northern Mindanao, the administrative region that includes the provinces of Misamis Oriental and Occidental, Lanao del Norte, Bukidnon, and Camiguin. Its regional capital is the bustling city of Cagayan de Oro. Its economy is now at P985 billion in terms of value, a close second to the Davao Region's P1.02 trillion economy. It grew at 5.3 percent last year, down from the high 7.2 percent growth the year earlier. It has the highest per capita Gross Regional Domestic Product at about ₱227,807 per year, slightly higher than the country's second highest, the Davao Region.

The trillion-peso Davao economy Part 2: Challenges

In last week’s column, we discussed that the Davao regional economy is now at  achieved ₱1.02 trillion in value. This week I dive into what else can be done to boost this growth further. The significance of the Davao region’s economy is that it is Mindanao’s largest.

The trillion-peso Davao regional economy

The Philippine Statistics Authority’s recent announcement of regional economic performance shows that the Davao region gave Mindanao its first trillion-peso regional economy. 
The Davao region, composed of the five Davao provinces and the island's most populous city, clocked a 6.7 percent growth rate in 2023 to achieve ₱1.02 trillion in value, higher than the ₱954.23 billion in 2022.

The future of our coconut industry is in diversified manufacturing

Recent news about the renewal of the contract between publicly listed coconut processor Axelum Resources and well-known coconut water brand Vita Coco (https://mb.com.ph/2024/4/18/axelum-signs-10-15-year-supply-deal-with-vita-coco) has many coconut industry watchers like me curious about the coconut water business, and hopeful that more deals such as these will take place to facilitate the growth of the downstream coconut industry. The article cites information from Skyquest Technology that the global market for coconut water is  $7.63 billion in 2023  and may grow to $25.18 billion by 2031. That’s a lot of cans of coconut water to be drawn from Philippine coconuts, and many opportunities for coconut farmers.