DAVAO CITY — The sectoral committees of the Regional Development Council will endorse projects worth P15.6 billion for implementation next year.
Government-funded infrastructure projects accounted for the bulk of the proposed public investments, with P4.5 billion, followed by power and supply development with P3 billion, ports development with P1.4 billion, as well as hospital and medical laboratory improvement with P1.4 billion.
Nicasio Angelo J. Agustin, council vice-chairman, said the endorsed projects will comprise the Davao Region’s Annual Investment Plan.
The proposed projects are broken down into the following key sectors: infrastructure (P10.6 billion), social (P3.7 billion), economic (P828 million), and governance (P4.25 million).
"The Department of Public Works and Highways proposed the largest project allocation at P5.6 billion," Mr. Agustin said.
Other agencies with project proposals worth at least P1 billion are: the National Transmission Corp., P3 billion; Philippine Ports Authority, P1.4 billion; Department of Health, P1.4 billion; and Department of Education, P1.3 billion.
Areas that are expected to get bulk of project funding next year are: Davao City with P4.2 billion; followed by Davao del Norte with P2.1 billion; Davao del Sur and Davao Oriental with P2 billion and P1.8 billion, respectively; as well as Compostela Valley with almost P1 billion.
Augusto B. Santos, National Economic and Development Authority director-general, said the Davao Region should be able to sustain its growth momentum for the next few years on strong growth in agriculture and infrastructure development.
He said the region’s growth drivers showed strong symptoms like higher agricultural output, 11% increase in tourist arrivals, and a slowdown of inflation rate to 2.9%.
Mr. Santos said for this year, production of high-value commercial crops, increased private and public construction expenditure, increased foreign direct investments in the mining industry, and increased investment in power market will be the main contributors to sustain growth momentum of the Davao Region.
The investment plan for 2009 will form part of the Updated Regional Development Investment Program for 2008-2010, which contains all public investments that will help spur growth in the region.
Funding for the projects, said Mr. Agustin, will come from the National Government and official development assistance.
"The recommended project proposals aim at supporting the region’s push for economic growth and thrust of the Super Region strategy for an agribusiness Mindanao," he said.
Mr. Agustin said the projects are expected to create more jobs; improve physical planning, infrastructure and logistics support; and promote good governance, social development, and sustainable management of the environment.
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