Northern Mindanao takes pride in its self-sufficient agricultural value and enabling business industries. Along with its strategic location, the region's local government unit is also globally recognized to be capable based on the 2020 Competitive Index Ranking. Through the years, the provinces of Northern Mindanao cultivated a diverse economic and industrial framework; the production of high-value crops, development of port facilities, extensive road networks, and efficient logistics system, to name a few. However, from the unforeseen economic downtrend brought upon the COVID-19 pandemic, the National Economic Development Authority assessed that the region experienced a contraction of 5.2% on its Gross Regional Domestic Product (GRDP) in 2020 compared to the previous year. While they are no exception to the impact of the pandemic, the region remains to uphold its potential in elevating economic and investment opportunities.
Recent reports from the National Economic and Development Authority further witnessed how the different sectors from the region are recovering and continuously logs positive growth; the Information and Communications Technology and Financial Service sector increases its uptake on digital financial services, the decrease of unemployment cases which went from a high of 11.5% to 5.6% as of October 2021, and the ongoing projects of North Mindanao and Metro CDO in transportation and energy infrastructure. The ECCP aims to provide more extensive detail on its economic and financial trajectory by recognizing the region's progressive milestones.
Following recent developments post-COVID-19, ECCP Cagayan de Oro/Northern Mindanao branch is organizing a webinar entitled "Northern Mindanao Post-Pandemic: 2022 Outlook" on 25 January 2022 from 01:30 PM – 03:00 PM with Guest Speakers Ms. Mylah Cariño, NEDA-X Regional Director and Mr. Jaime Rafael Paguio, CEPALCO Senior Vice President. This webinar will feature the outlook of Cagayan de Oro and Northern Mindanao as a whole for 2022 in terms of business and economy and Cagayan de Oro's recent trends in the industry.