Brighter economic future for Zamboanga City PDF Print E-mail
Monday, 05 August 2013 10:42

In a recent media conference organized by the Philippine Information Agency for NSCB (National Statistical Coordination Board) and NEDA (National Economic Development Authority), good economic news was announced. Zamboanga Peninsula had posted a positive 12.4% economic growth (GRDP-Gross Regional Domestic Product) in 2012 - the highest among the country‘s 17 regions.  It was brought about, according to NSCB, by the accelerated growths in the industry (manufacturing, constructions, mining, electricity, gas and water supply) and service (transport, storage, communication, commerce, financial, etc.) sectors which are majority located in Zamboanga City. This data gives a good impression to investors of our city.

If this economic growth continues, expands and develops other sectors (tourism, agriculture and marine products even the Information Technology), cascade to economic development, and improves public services such as education, health, and security, there are no other reasons why Zamboanga City and Zampen as a whole will not be the next economic hub of Mindanao.

GRDP is an important economic statistical performance data for investors. It measures the goods and services produced in each of the geopolitical regions of the country; and it provides for an analysis of the regional distribution of the country’s gross domestic product (GDP), the industries and factors that contribute to the regional economies, and the pace at which these economies are moving. In short, places where GRDP growth is high, there is economic potential (money)! This is an important economic fact that contributes to the decision of the investors to come in or not. Outside investors saw it in Zamboanga City.

There will be 3 giant malls to rise soon in Zamboanga City. Constructions are booming with high end subdivisions such as Woodridge in full swing of development.  Local banks are expanding. The Philippine Business Bank (PBB), one of our country’s fastest and stable banks, will open their branch next month in Veterans Avenue. The bank’s management saw the economic potential of our city and willing to support local SME (Small Medium Enterprises).  These new investments are economic signs that indeed our city is going up.

NSCB-9 Director Dr. Mewchun Pamaran, NEDA-9 Director NEDA-9 Director Teresita Ramos and her City Chief Rustico Varela said they will present this positive economic growth data of Zampen to local governments including national government agencies, and discuss it together with different private sectors on how to continue, maximize, and plan economic development for the whole region. Special guest was Director Raymundo Talento of NSCB Central Office who was delighted with the good economy of our city.

I personally shared my opinion to Directors Pamaran and Ramos, that everybody will be happier of this economic growth if it will trickle down to the masses and will felt by them in terms of living better economic lives. To quote Chief Varela, GRDP is not development, but it is the means of achieving for a better life. The higher the rate of economic growth; the higher the rate of per capita income increases; and the more goods and services available for consumption.
With the coming booming economy, let’s have confidence and trust with the new administration of Zamboanga City Mayor Beng Climaco-Salazar.  In a party last Saturday, City Councilor Meng Agan said so far Mayor Beng is doing well and he is supporting her. And I agree with him – she is doing more and greater what she had campaigned for.

By Dante Corteza

“Speak up for those who cannot speak for themselves, for the rights of all who are destitute. Speak up and judge fairly; defend the rights of the poor and the needy” Proverbs 31:8-9