President Ferdinand Marcos Jr. on Thursday said Northern Mindanao has the potential to become the leading agricultural hub and a major industrial, tourism, and trade center.

Marcos said this in his speech during the distribution of assistance to El Niño-affected individuals in Iligan City.

Marcos said the National Economic and Development Authority (NEDA) has already outlined the strategies and projects to be implemented in Region 10 as part of the Northern Mindanao Regional Development Plan for 2023 to 2028.

"It aims to make the whole Region 10 ‘globally competitive leading agricultural hub and major industrial, tourism, trade center," Marcos said.

One of the key projects highlighted was the Panguil Bay Bridge, with an investment of P8 billion This ambitious infrastructure will connect Tangub, Misamis Occidental, and Tubod in Lanao del Norte, promising to streamline travel and boost economic activities between these areas.

Additionally, the President announced the release of P1.89 billion budget for the Iligan City Coastal Bypass Road, aimed at alleviating urban congestion.

"This project is crucial for easing traffic in the city and improving daily commutes for our people," Marcos explained.

Further development plans include the expansion and rehabilitation of several airports across the region, including those in Ozamiz, Camiguin, Lumbia, Bukidnon, and Laguindingan.

These upgrades are expected to enhance connectivity and support the region’s growing tourism sector.

"These projects aim to accelerate the flow of the economy and opportunities for the citizens of Region 10,” Marcos said.

In the realm of agriculture, significant investments are being made. Marcos said the National Irrigation Administration (NIA) is pouring resources into irrigation projects to support our farmers and increase agricultural productivity.

He specifically mentioned the completion of two solar pump irrigation projects in Salvador and Sapad, Lanao del Norte, with almost P30 million pesos allocated budget.

Recognizing the shifting economic landscape post-COVID-19, the government is also focusing on education as a cornerstone for sustainable development.

Marcos also announced the initiation of scholarship programs and subsidies for students pursuing agricultural and medical studies.

"For the Academic Year 2023 to 2024, we have provided nearly P60 million for over four hundred scholars of the Medical Scholarship and Return Service Program of the Commission on Higher Education here in Region 10," Marcos said.

These initiatives reflect a comprehensive approach to regional development, aiming not only to boost economic indicators but also to improve the overall living standards of the people in Northern Mindanao.