August 11, 2020

Agriculture, aquaculture to boost economy in Mindanao, Philippines

The Mindanao Development Authority (MinDA) of the Philippines said it will focus its efforts on Mindanao's agriculture and fisheries sectors over the next five years as it aims for immediate recovery to counteract the economic slowdown triggered by the COVID-19 pandemic.

In a statement on August 9, MinDA Secretary Emmanuel Piñol said the agency will pursue several agriculture and aquaculture projects funded by the European Union that would address poverty, improve productivity and trigger economic recovery.

"MinDA's interventions will be mainly on value-adding on its major products to create more job opportunities and increase producers' earnings. Mindanao's agriculture and fisheries sector was the bright spot in the region's economy as it showed resilience by posting positive growth, even as the industry and services sectors were badly battered by the COVID-19 pandemic," Piñol said.

The Philippine Statistics Authority (PSA) reported that in the second quarter of the year, Mindanao agriculture grew by 0.1 %, while industry and services sectors contracted by 6.9% and 9.7%, respectively.

Despite a 16.5% drop in the gross domestic product (GDP) in the second quarter this year -- the worst since 1981 -- MinDA projected that Mindanao can withstand COVID-19's impact on the economy.

"While major growth drivers succumbed to (the) pandemic, agricultural sector output for domestic consumption and exports of top Mindanao agricultural products stood strong against the insane waves of adversity, showing Mindanao's resiliency," MinDA Assistant Secretary Romeo Montenegro said.

"Regardless of the situation we are confronted with, calamities, disasters, conflict, pandemic, and the likes, we all need food to survive. So if the focus is given to improving Mindanao's agri sector, which is an inherent strength, towards self-sufficiency, food security and sustainability, then we become more resilient and can stand better chances of overcoming internal or external shocks and recover faster," Montenegro explained.

Montenegro said the agriculture value chain cuts across sectors as hotels and malls sell agri-products, some construction activities are related to agri-facilities, and logistics flow contain agriculture products, raw or processed, domestic or for export. Mindanao supplies over 40% of the country's food requirements and contributes more than 30% to the national food trade.

The Mindanao Peace and Development Rise Program (MINPAD-Rise) under the European Union Fund Grant amounts to PHP2.1-billion (US$43 million), which MinDA said will be used to establish an integrated value chain and implement rural development projects across Mindanao.

- Philippine News Agency