Northern Mindanao to boost export revenues to $644M this year

The Northern Mindanao region expects to contribute $644 million to the country’s export revenue in 2006, according to the Regional Development Council.

Trade and Industry Secretary Peter B. Favila said the bullish forecast for the region reflects exporters’ faith in their goods and in the energy and resources they are investing to produce more and better products for the overseas markets.

Businessmen in the region, however, warn that the rising cost of doing business, such as shipping power and labor, may hinder export growth.

Favila assures, however, that government is working on various measures to lower cost of doing business especially for exporters. These include scrapping the various fees slapped on exporters by various government agencies.

"The government is aware of the plight of exporters and the measures we are putting in place intended to make local businessmen more competitive in the international arena," Favila said.

Northern Mindanao (Region 10) exports have been growing at a faster rate, averaging between 19 percent to 21 percent from 2003 to 2005, higher than the national average. The government’s export growth forecast for the year is 10 percent.

To sustain the export growth of the region, local businessmen identified key areas that need attention. These include streamlining of government procedures, financial support for the SME exporters, access to market information, reduction of government charges and fees, improvement of packaging materials, sustaining raw material supply, investment in logistics, transportation, communications and technology support, and investment in manpower and capability building.

Region 10 is known for its South Sea pearls, handwoven clothes, terra cota, porcelain, coral and mother of pearl home accessories. Artifacts, pineapple fiber shirts, prehistoric jars, native handicrafts and footwear are interesting items, too.

The region also produces fine basketry, furniture, fresh and processed fruits, exquisitely crafted jewelry, and gift items made of shell, wood and stone.

Region 10 consists of the provinces of Bukidnon, Camiguin, Misamis Oriental, Misamis Occidental, Lanao del Norte and Iligan City.