BAGUIO CITY – The Regional Development Council Economic Development Committee (RDC-EconDev) has identified tourism; hydropower and alternative energy; and business process outsourcing (BPO) as areas of investment that capitalists can look in the Cordillera as a location.
The identification of the three areas of investment was based on the priorities of the six provinces and two cities of the region.
“It will serve as a guide for the private sector on the potential investment priority areas in the Cordillera region,” Myrna Pablo, Department of Trade and Industry Cordillera Administrative Region (DTI-CAR) regional director and EconDev committee chairman, said on Friday.
Meanwhile, the Regional Development Investment Program 2018-2022 guides priority investments for the public sector in the region.
The IPP’s other priority investment areas are metal craft, mining of precious metals, air transportation, coffee production, medical services and facilities, waste management, and bamboo craft.
Pablo said the maturity of the industry and government support are additional parameters needed in determining priority investment areas.
The initial considerations include the capacity for employment generation, value-chain development, the extent of geographic areas of coverage, use of abundant local raw materials, environmental sustainability and inclusivity.
With the investment areas identified, the RDC EconDev committee started doing consultations and gathering inputs from other committees of the regional development council- which will back and reinforce the provinces’ investment priorities.
The RDC committee on Indigenous Peoples’ concerns, Infrastructure, and Development Administration will also be consulted for inputs on the identified investment priority plans.
“Inputs from other sectoral committees shall ensure that the IPP is inclusive, covering all investment priorities of the region,” Pablo said.
National Economic Planning and Development Authority- CAR regional director and RDC vice chairman Milagros Rimando said the investment priorities is a relevant information that investors also look for when locating in an area.
“The IPP is a very critical document of the RDC. It is something that is in demand among our stakeholders,” Rimando said. PNA – northboundasia.com