Senate OKs law creating Mindanao Economic Development Authority

MANILA, Philippines – The Senate has passed on second reading the law that creates the Mindanao Economic Development Authority (MEDA) in a bid to step up the socio-economic growth of Mindanao.

Senate Bill 3496 aims to accelerate the socio-economic growth of Mindanao, increasing its trade, tourism and investments, encouraging private enterprise and advancing efforts towards peace and development.

The Senate passed the bill on second reading before it went into recess last Oct. 14.

The proponents of the bill include Senate Majority Leader Juan Miguel Zubiri, Senate President Pro Tempore Jinggoy Estrada, Senators Miriam Defensor-Santiago, Manuel Villar, Lito Lapid, Richard Gordon, Ramon Revilla, Loren Legarda and Edgardo Angara.

“Towards this end, an effective institutional mechanism shall be established to address the need for a coordinated and integrated approach in the formulation and implementation of various Mindanao-wide inter-regional development plans, programs and projects,” the bill reads.

If passed into law, the government shall further undertake efforts to promote the active participation of Mindanao and Palawan in the Brunei Darussalam-Indonesia-Malaysia-the Philippines – East Asia Growth Area (BIMP- EAGA).

“The MEDA is hereby created which shall promote, coordinate and facilitate the active and extensive participation of all sectors to effect the socio-economic development of Mindanao. It shall also act as an implementing agency for specific Mindanao inter-regional and Mindanao-wide programs and projects when necessary,” the bill reads.

The MEDA shall cover all the provinces and cities of Regions IX, X, XI, XII, CARAGA and the Autonomous Region in Muslim Mindanao (ARMM), and shall have its main office in Davao City.

It may establish area management offices (AMOS), if necessary, to achieve the objectives of the Act.

The bill deemed that MEDA shall have a term of 50 years from effectivity and renewable for the same period unless otherwise provided by law. – Christina Mendez