MIMAROPA TO BENEFIT FROM GLOBAL FINANCIAL CRISIS
October 15, 2008

WITH some parts of the world badly hit by the global economic crisis, Vice President Noli 'Kabayan' De Castro said there is greater opportunity that investors will go to other parts of the world that are stable such as the Philippines.

And one to benefit most in the country are the islands of Mindoro, Marinduque, Romblon and Palawan otherwise known as the MIMAROPA region, according to De Castro during a full regional development council (RDC) meeting in Marinduque last Monday (October 13).

De Castro said there is need to make the Philippines more attractive to investors by developing its infrastructure, enhancing the skills of its workers and making business processes more streamlined and friendly.

He urged local governments in MIMAROPA not to waste said opportunity by continuously improving their infrastructure to attract investments in the region.

"Show investors that you're running the local governments orderly and that you're ready to accommodate them," he said.

De Castro, who is cabinet officer for regional development (CORD) for MIMAROPA, said it is advantageous that the region is positioned to promote and maximize its tourism potentials.

"While most people in the financially hit countries would now be more conservative in their expenditures, there are other markets in the world that have not been adversely affected and would continue to look for viable areas for investments as well as sites for pleasure," he said.

De Castro also pointed out the advantage of MIMAROPA in focusing itself on enhancing its agricultural capacity. He said it was timely that they were discussing the agricultural targets that MIMAROPA hopes to commit to the country.

"Through this commitment, let us strive to position this region to be the agricultural hub in the southern Luzon and Visayas that would help resolve food crisis,' he said.

Meanwhile, De Castro lauded President Gloria Macapagal Arroyo and the country's economic team for putting in place sound economic and financial policies that cushioned the impact of the crisis.

Most importantly, he said the country should thank its overseas Filipinos who continue to send their dollar remittances to the Philippines that sustain its economy.

"So I encourage you all here in MIMAROPA to thank your OFWs. They are truly our heroes," he said.

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