by Miriam G. Desacada
Tacloban City–Northern Samar Governor Edwin Ongchuan met with Asian Development Bank (ADB) executives to discuss the provincial government’s plans to enhance investment opportunities and to develop further the blue economy of the province.
Ongchuan, who was with his provincial development officers, meet with ADB officials on March 5 at the latter’s headquarters in Mandaluyong City.
The governor presented to ADB his vision for Northern Samar to be a pioneering local government unit (LGU) in pushing for various development endeavors previously initiated by the ADB itself and other government agencies.
He said that sustainable development strategies should maximize the province’s geographical and economic capabilities, such as facilitation of investments by making Northern Samar a pilot LGU in the Business Environment Performance-Based Loan.
This initiative, as endorsed by the Board of Investments (BOI) and the Anti-Red Tape Authority (ARTA), proposes the publication of Investor Guidebooks and the examination of regulatory procedures to enhance operations in key sectors such as renewable energy.
In terms of blue economy development, which was also a major topic in the meeting, the ADB eyes Northern Samar’s participation in the Agri-Aqua Innovation Pitch Fest (AIPF), which could serve as a platform for technical support in the program to boost sustainable practices in the marine and fisheries sectors.
Northern Samar said it will submit to the Department of Agriculture (DA) a formal request for ADB’s technical assistance. In turn, ADB will recommend to the DA that the province is a contributing LGU in the AIPF.
Blue economy is an economic term that refers to the sustainable use of ocean or maritime resources for economic growth, livelihood and jobs, while protecting the marine environment. Sectors that are involved in the blue economy are fisheries, aquaculture, transport, coastal tourism, offshore renewable energy, mining, and marine research and education.
The ADB will be meeting later with relevant stakeholders, including the BOI and the Provincial Economic Development and Investment Promotion Office (PEDIPO), to outline the scope of possible technical support, and the participation of Northern Samar provincial government in the planned initiatives.
According to Ongchuan, the meeting lays the groundwork for future cooperation between the ADB and Northern Samar, with both entities resolved to pursue further discussions on these ventures and other possible areas of collaboration.
These endeavors are expected to make a substantial impact on the sustainable economic development and prosperity of Northern Samar, establishing a model for other province’s in the Philippines, he said. —Miriam G. Desacada