MinDA and Dinagat Islands bind to boost economic development

Davao City, Philippines – The Mindanao Development Authority (MinDA) and the Provincial Government of Dinagat Islands on June 27, signed a Memorandum of Cooperation (MoC) to boost the economic development of the islands.

The agreement aims to establish Economic Zones (EZs) in Dinagat Islands, designed to attract local and foreign investments, create jobs, and alleviate poverty in the province.

The MoC, which focuses on technical assistance, capacity building, and information exchange, was signed by MinDA Chairperson Secretary Leo Tereso A. Magno and Dinagat Islands Governor Nilo P. Demerey Jr. This vision is aligned with MinDA’s Mindanao Agenda 2022-2028, which emphasizes sustainable development and economic integration within the ASEAN region.

Governor Demerey Jr. highlighted the “i2 FAME” strategy, targeting innovation and industrialization in the fisheries, agroforestry, mining, and ecotourism sectors. Secretary Magno emphasized MinDA’s role in coordinating efforts and promoting investments aligned with national development goals.

“This partnership is a significant milestone in Dinagat Islands’ journey towards socio-economic development,” said Demerey. “By leveraging strategic partnerships and integrated planning, we aim to uplift the region and create a more prosperous future for our people.”

Secretary Magno added, “MinDA is committed to supporting the Dinagat Islands through coordinated efforts that promote sustainable investments. This MoC will pave the way for economic zones that will bring substantial benefits to the local community.”

The signing of this MoC marks a critical milestone in the socio-economic development of Dinagat Islands, leveraging strategic partnerships and integrated planning to uplift the region.

The Dinagat Islands, are endowed with a variety of natural resources and economic assets.

Here are some of the key resources of the Dinagat Islands:

Natural Resources

1. Mineral Resources:
   • Nickel and Chromite: The islands are known for their significant deposits of nickel and chromite, which are the main minerals extracted in the region.
   • Other Minerals: There are also deposits of gold, silver, and iron.
2. Forestry:
   • The islands have forested areas that provide timber and non-timber forest products, such as rattan and bamboo.
3. Marine Resources:
   • Fisheries: The waters around the Dinagat Islands are rich in marine life, supporting a thriving fishing industry. Key species include tuna, sardines, and various reef fish.
   • Aquaculture: The islands have potential for aquaculture, including the farming of seaweed, fish, and shellfish.
4. Agriculture:
   • Crops: The main agricultural products include coconut, rice, root crops, and various fruits and vegetables.
   • Livestock: The islands also support livestock farming, including poultry, pigs, and cattle.
5. Ecotourism:
   • The natural beauty of the Dinagat Islands, with its pristine beaches, caves, and limestone formations, makes it an attractive destination for ecotourism. Key attractions include the “Mystical Island” of Hagonoy, the stunning Lake Bababu, and the Sundayo Beach.

Potential for Development

1. Economic Zones:
   • The establishment of Economic Zones (EZs) as outlined in the recent Memorandum of Cooperation aims to attract local and foreign investments, further boosting the economic potential of the islands.
2. Infrastructure Development:
   • Ongoing and planned infrastructure projects, such as improving transportation networks, ports, and communications, will enhance the connectivity and economic viability of the islands.
3. Sustainable Practices:
   • There is a growing focus on sustainable development practices, particularly in mining and ecotourism, to ensure the long-term preservation of the islands’ natural resources.

The diverse and rich resources of the Dinagat Islands present numerous opportunities for sustainable economic development, making the region a key focus for investment and growth in the southern Philippines.