THE European Chamber of Commerce of the Philippines-Southern Mindanao Business Council (ECCP-SMBC) has projected that Mindanao's economy will grow at around six to seven percent in 2025, surpassing the estimated national Gross Domestic Product (GDP) growth forecast of five percent.
The growth forecast will attributed to the thriving tourism, booming real estate markets, and information and communications technology (ICT) sectors in the island, particularly the Business Process Outsourcing (BPO), highlighting Mindanao’s increasing significance in the nation's economy.
“The forecast that we rely on from different sources, especially for Mindanao, we [are seeing] a very good number here which is higher than your national average. It speaks well on our kind of projects that we have been implementing in Mindanao,” Tony Peralta, chairman of ECCP-SMBC told the Davao media during the Habi at Kape Media Forum on Wednesday, January 15, 2025.
However, despite a positive economic outlook, Peralta emphasized the need for continued government support, particularly in addressing the region's vulnerability to climate-related challenges and its impact on business operations.
“The thing that I would like to be cautious about is the need to sustain or continue this because while the numbers may look good, what will also affect that would be dangerous events such as climate change especially right now [that] we are experiencing La Niña or too much rain,” he added, further expressing the vital role that “climate resilience and sustainable infrastructure” play in protecting the businesses, livelihoods, and communities in the island.
Currently, the business chamber in Davao City serves as a key player in enhancing Mindanao’s economic ties with Europe. It provides valuable support to businesses, advocates for the region's interests, and fosters economic development through sustainable practices and investment.
To guarantee that Mindanao's economic potential is fully fulfilled, the international trade fair information center also collaborates closely with governmental organizations like the Mindanao Development Authority (MinDa). Additionally, it takes part in discussions aimed at enhancing the business climate and advocating for laws that favor both domestic and European-based companies.
Serving the European-Philippine business community since 1978, the ECCP remains committed to enabling cross-sector collaboration, promoting economic growth, and championing a sustainable future. For inquiries or further information, you may contact us directly or connect with us through our official social media channels.