By JOANNA C. BALANZA
DAVAO CITY – The construction industry in Mindanao would benefit from expansion of local industries in the countryside spurred by the current flood of foreign direct investments, said a construction industry leader, who cites Mindanao’s good investment climate as another reason for optimism.
“We can make the Philippines a Tiger Economy, through the construction industry,” said Engineer Levy Esperitu of the Philippine Constructors Association Inc.
Key industry players held here recently the 4th Joint General Membership Meeting of the Philippine Constructors Association Inc., and Davao Constructors Association Center.
Mindanao Development Authority (MinDA) chair, DA chair Luwalhati Antonino in her message said the construction industry has been always been one of the driving forces in the local and national economy.
“No development and economic growth would have been possible without the role significantly played by your sector,” said Antonino.
Antonino said the investment climate in Mindanao today augurs well for construction development as businesses are planning to expand operations.
The industry sector of Mindanao is expected to grow at around five percent to 6.3 percent this year, which will come mostly from construction, agro-industries, manufacturing, among others, according to MinDA projections.
Total amount for the new private building construction in Mindanao reached P18.65 billion in 2010, up from P16.6 billion in 2009 with the Davao Region taking the highest share at 46 percent with P8.59 billion.
“As we anticipate improvement in foreign direct investments and with the recent move of the government to accelerate spending to enhance services delivery and pump prime the economy, there is much to expect in terms of construction development, especially here in Mindanao,” Antonino said.