The Central Visayas Regional Development Council (RDC-7) together with the National Economic and Development Authority (NEDA) launched the Central Visayas Regional Development Plan (RDP) 2023-2038 on Aug. 8, 2023 at Mezzo Hotel, Mabolo.
The RDP is anchored in the AmBisyon Natin 2040, a collective long-term vision of having a Matatag (strongly rooted), Maginhawa (comfortable), at Panatag (secure) na Buhay Para sa Lahat (life for all).
This is aligned with the administration’s eight-point socio-economic agenda and the Philippine Development Plan 2023-2028.
The RDP covers various strategies and approaches that would be implemented locally to achieve poverty reduction, economic growth, boosted employment rates, and combat inflation.
“Our Central Visayas RDP 2023 to 2028 will serve as our guiding light, our north star that will guide us back to the high growth path that we have started in the region prior to the local challenges that we faced in Central Visayas,” NEDA-7 Regional Director Jennifer Bretaña said during the launch.
To reverse the impact caused by the pandemic, Bretaña urged officials to “translate the plan into action” and participate in the upcoming organizational activities for the RDP.
Aside from the AmBisyon Natin 2040, the RDP also considered all the lessons learned from the COVID-19 pandemic, the global and regional trends, and the 2030 sustainable development goals.
The planning preparation underwent multi-stakeholders consultation following the whole-of-government and whole-of-society approach.
Consultations were done at the provincial level, focused group discussions, Sectoral Committee consultation meetings, and peer reviews involving members at the national level together with other NEDA regional offices and the RDC Sectoral Committee secretariat.
The RDP 2023-2028 was approved on March 16, 2023 with the vision of Central Visayas becoming a premier tourism destination, logistics hub, center for trade and industry, science and technology, and innovation.
The overall goal of the plan is to reinvigorate job creation and accelerate poverty reduction by steering the economy back on the high growth path.
With the lifting of the COVID-19 restriction, a projected 6.8% to 8.5% is targeted for the region’s GRDP.
Regional economy growth
From 2016 to 2019, prior to the COVID-19 pandemic, the Gross Regional Domestic Product (GRDP) of Central Visayas grew at an average annual rate of 7%.
Based on the data from the Philippine Statistics Authority (PSA), Central Visayas was the fourth fastest in growth rate among the 16 regions in the country, experiencing a contraction only in 2020.
The regional economy recovered slowly in 2021 due to the ease of COVID-19 restrictions, which resulted in a 5.4% growth rate.
One of the economic drivers of the region during the pandemic is agriculture.
The agriculture industry's resiliency amid the pandemic showed a growth 4.2% in 2020 and 5.6% in 2021, surpassing its growth target of 2.8% to 2.9% for 2020-2021.
Despite the contraction brought about by the pandemic, all the regional economies were able to recover in 2021, with Cebu province - led by Cebu City - and Siquijor province both posting a high growth rate at 5.7%.
The region continues to grow as reflected in the 7.6% growth in its gross regional domestic product in 2022, surpassing the pre-pandemic growth rate of 6.5%.
The regional growth equaled the national gross domestic product growth rate of 7.6% in 2022.