RIYADH, 24 February 2007 — Arab News will host and sponsor the first Mindanao Economic Forum (MEF) “Discover Mindanao” on March 9, from 3:30 p.m. to 8:30 p.m., at Saudi Research & Publishing Co. headquarters here.
Arab News Editor in Chief Khaled A. Almaeena, the keynote speaker at the forum, will talk on OFWs’ role in Saudi Arabia’s economic development.
The forum will feature a live presentation by field engineers and consultants on various investment opportunities in Mindanao.
Philippine ambassador to Saudi Arabia, Antonio P. Villamor, will address the event and Dr. Omar Mababaya, economic expert and presently working with Saudi Basic Industries Corp. (SABIC), will talk on the “resources and economic potentials of Mindanao.” Dr. Alexander Lucman of the Ministry of Planning will provide an overview of the current economic situation in the area.
Qatar Airways is co-sponsoring the event by providing a two-way ticket to any destination of choice in the airline’s network to the raffle draw winner.
The forum will identify the economic potentials of Mindanao to attract prospective Saudi investors. The region’s evenly distributed tropical climate makes it ideal for year-round crop production.
Mindanao accounts for over 40 percent of the Philippines’ food requirements and contributes more than 30 percent to the national food trade, the latest data from Mindanao Economic Development Council (MEDC) showed.
The region grows most of the Philippines’ major crops such as rubber (100 percent of national production), pineapple (91 percent), cacao (90 percent), banana, coffee, corn and coconut (over 50 percent). The island also produces exotic fruits like pomelo, mangosteen and durian.
Mindanao is also endowed with rich mineral resources. Its metallic deposits include lead, zinc, ore, iron, copper, chromite, magnetite and gold. Gold mined in Mindanao accounts for nearly half of the national gold reserves. Its non-metallic mineral resources include marble, salt, sand, gravel, silica, clay, and limestone.
According to MEDC’s data, Mindanao’s economy grew at an average of 3 percent in 1995-1997, then dipped to 0.5 percent in 1998 due to Asian financial crisis. It improved to nearly 2 percent in 1999.
Its gross regional domestic product (GRDP) in 2000 remarkably grew 4.95 percent, higher than the national growth rate of 4.01 percent. This was due to the bullish performance of its agriculture sector (5.84 percent) and industry sector (5.09 percent).
Speaking on behalf of MEF, Amen Panolong, interim secretary-general, said the forum aims to utilize the experience and expertise of OFWs from Mindanao in various fields in “promoting good relations between the people of Mindanao and the people of Saudi Arabia.”
He said, MEF, a nongovernmental organization formed in Riyadh recently, will also motivate OFWs to utilize their experience in putting up livelihood projects.
The forum is organized in collaboration with the Union of Muslims Associations (UMA), Federation of Maranao Associations in Saudi Arabia (FEMAS) & Basak Consultative and Development Council (BCDC).