"The strong regional growth performance of Zamboanga Peninsula clearly
indicates a bullish regional economy ready to compete in a wider
global trading arena," said Undersecretary Virgilio Leyretana, MEDCo
chair, during the Regional Peace and Development Forum in Pagadian
City last week.
Data collated by MEDCo showed that Zamboanga Peninsula's gross
regional domestic product (GRDP) growth rate surged to 32 percent last
year compared to 29.9 in 2004.
The GRDP is a measure of the total economic activity within a region,
and corresponds to the gross domestic product (GDP) at the national
level. Often used as an indicator of economic welfare of a region, it
represents the sum of all value added earned by the production of
goods and services within a certain region over a period of time,
where value added is defined as income less intermediate costs.
According to Undersecretary Renato Ebarle, MEDCo vice chair who is
coordinating the office's activities in western Mindanao area,
attributed the region's economic performance to the "Super Region"
strategy of President Gloria Macapagal-Arroyo. The President's move
identified Mindanao as priority area for agri-investments.
The peninsula region is home to the country's leading sardines
canneries. It also has substantial contribution in the production of
aqua-culture products, like seaweeds, one of Mindanao's leading export