Davao Oriental in the Philippines has been recognized as one of the ten wealthiest provinces in Mindanao, ranking seventh on the list.
Davao Oriental’s Economic Milestone
Did you know that Davao Oriental is now one of the ten richest provinces in Mindanao? According to the Bureau of Local Government Finance’s 2023 report, Davao Oriental boasts an impressive PHP408 million income. This achievement underscores the province’s economic growth efforts and good governance, as emphasized by Governor Niño Uy.
Economic Recognition and Impact
The recognition of Davao Oriental’s economic status was announced through a Facebook post by the provincial government information office. The province’s inclusion in the list reflects significant economic growth and strategic planning, which have collectively driven local revenue increases over the years.
Wealthiest Provinces in Mindanao
Province |
Income (PHP) |
|---|---|
| Bukidnon | 1.034 billion |
| Davao de Oro | 838 million |
| South Cotabato | 717 million |
| North Cotabato | 716 million |
| Misamis Oriental | 573 million |
| Lanao del Norte | 532 million |
| Davao Oriental | 408 million |
| Agusan del Sur | 385 million |
| Davao del Norte | 326 million |
| Davao del Sur | 315 million |
Driving Factors Behind Economic Growth
Governor Niño Uy attributes the province’s success to effective tax collection and other local revenues. This increased funding has been pivotal in financing development projects across Davao Oriental. The priority areas for these projects include education, health, infrastructure, and tourism.
The Governor said,
“Currently, the provincial government is preparing new initiatives to improve the residents’ quality of life. The measures include investment in agriculture, technology, and sustainable development,”
Strategic Planning and Future Initiatives
Davao Oriental is committed to sustaining its economic growth through strategic planning and investment. The provincial government is preparing its Annual Investment Program (AIP) for 2025, which will guide resource allocation for the upcoming fiscal year.
Key Aspects of the Annual Investment Program
- Collaboration: Involvement of government, private sector, and civil society in identifying priority areas.
- Focus Areas: Agriculture, tourism, peace and order, health, infrastructure, social welfare, and environmental issues.
- Goals: Foster economic growth, infrastructure development, and social welfare programs.
Aligning with Provincial Vision
Under Governor Niño Uy’s leadership, the investment plan aligns with the evolving needs and aspirations of the province’s vision for inclusive and sustainable growth. The AIP emphasizes good governance, transparency, and accountability in resource allocation.
Projected Budget Increase
Davao Oriental projects a budget of PHP2.7 billion in 2025 from local and external sources. This increase in funds will further support development initiatives across various sectors.
Focus on Key Economic Drivers
The province recognizes the importance of modernizing agriculture and prioritizing agri-powered technology to maintain a stable economy. Additionally, enhancing infrastructure, particularly the international airport, aims to establish the region as an international logistics hub. Promoting tourism is also a critical component of the province’s economic development strategy.
Personal Experience in Davao del Sur
Having lived in Davao del Sur for eight months in 2023, I witnessed firsthand the rising living standards across the Davao Region. New shops and towns are springing up, and vehicle ownership is increasing, indicating economic progress.
To Sum Up
Davao Oriental’s recognition as one of Mindanao’s wealthiest provinces is a testament to its economic resilience and strategic governance. The province’s commitment to sustainable growth and development promises a brighter future for its residents.
With continued investment in key areas, Davao Oriental is set to maintain its upward economic trajectory and contribute significantly to the region’s prosperity.
Sources: THX News & Philippine News Agency.
