DAVAO CITY (MindaNews / 9 December) – The provinces of Maguindanao del Norte and Lanao del Sur accounted for more than half of the economic output of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
Based on BARMM’s Provincial Product Accounts (PPA) released by the Philippine Statistics Authority on Thursday, Maguindanao del Norte and Lanao del Sur are top contributors to the economic performance of the region with 27.8 percent and 25.6 percent share, respectively, or a combined total of 53.4 percent from 2018 to 2022.
According to the PPA, the aggregate gross regional domestic product of BARMM was estimated at P280.27 billion for the same period.
The report added, meanwhile, that Sulu contributed 16 percent, Maguindanao del Sur 13.6 percent, Tawi-Tawi 8.8 percent, and Basilan 8 percent.
According to the agency, the PPA is a mechanism to compile the gross domestic product at the subregional level “to provide a suitable measure of economic performance at the provincial and highly urbanized city” and a as means “to strengthen the planning and decision-making of subregional policymakers and stakeholders in crafting more informed economic policies.”
“It will also be a source of indicators to monitor economic development at the local level,” it said.
The BARMM is among the pilot regions for the PPA, including Ilocos Region, Cagayan Valley, Central Luzon, Bicol Region, Zamboanga Peninsula, and Caraga.
Foreign chambers here remained optimistic that Mindanao will sustain its economic growth despite the bombing incident last December 3 inside the Dimaporo Gymnasium at Mindanao State University in Marawi City that killed four people and injured dozens of others.
Ed Bullecer, member of the board of the American Chamber of Commerce in Philippines-Mindanao, said during “Wednesdays Media Forum at the Habi at Kape” that from investors’ viewpoint, the explosion was an isolated incident.
“In general, from (the viewpoints of our) businessmen and associates, this kind of violence has been part of our history… it’s comforting to hear the assurance of the security sector. We, as businessmen and even our associates from abroad, have not heard of any cancellations of scheduled visits to pursue business trips,” he said.
In a statement released on Monday, the Joint Foreign Chambers of Commerce in Mindanao condemned the act of violence in the strongest terms possible.
The joint foreign chambers included the American Chamber, Canadian Chamber of Commerce of the Philippines-Mindanao Chapter, Japanese Chamber of Commerce of Mindanao, Inc., and European Chamber of Commerce of the Philippines-Southern Mindanao Business Council.
“We seek the national and local government’s law enforcement agencies to bring to justice the perpetrators of this heinous act. We remain supportive of our government’s efforts on working to bring a lasting peace in Mindanao,” the statement reads. (Antonio L. Colina/MindaNews)