ARMM gathers P3.8 B investments in 2014 PDF Print E-mail
Sunday, 28 December 2014 14:15

The  Regional Board of Investments  has announced Wednesday  that it  has registered  an  unprecedented   P3.867 billion  investment in the Autonomous Region in Muslim Mindanao  this year.

RBOI-ARMM made the  announcement    during its  meeting   at  nickel mining  project of the  Pax  Libera Mining Inc., which  has  recently poured in  P495  million  worth of investment  in  Languyan, Tawi-Tawi.

“This latest investment may prove that investments in the ARMM is not a flash in the pan or a freak phenomenon but may have staying power provided relative peace and order prevails in the region with the combined beneficial effects of the peace process and good governance initiatives by the regional government, ” Atty. Ishak Mastura,  managing head and  RBOI chairman said.

Mastura  emphasized that  in accordance with the investment policy of the regional government, no income tax holiday or fiscal incentives were given by the RBOI to the mining company.

This,  he said,  is  because  the  firm  is engaged in an extractive industry and the regional government wants to avail of the full rents and revenue generating potential of such investments in the extractive industry.

“There is no official policy welcoming or encouraging mining investments in ARMM and the mining investors have to get the full consent and social acceptability of the communities they operate in even before they are allowed to operate,” he emphasized.

To date most of the ARMM investments in ARMM are agriculture-based such as banana plantations and agricultural processors.

A close second source of investments is the renewable energy industry, particularly in biomass power generation.

Mining investments have been confined practically to one geographic area and specific to one commodity. This is the nickel-mining operations in Languyan, Tawi-Tawi, Mastura said.

In an  earlier  report  to  Philippine Information Agency  12, Mastura  enumerated  several investments  that  the region  received   since January.

Lamsan Power Corporation (LPC) based in Sultan Kudarat, Maguindanao that invested  P921 million  for  a  15-megawatt biomass renewable  energy project  while   Green Earth Enersource Corporation   earmarked  P366 million  for a  4.5-MW biomass power plant that would power Agumil’s milling and crushing plants in Buluan, Maguindanao.

Meanwhile,  Philippine Trade Center is also putting up its  own  3 MW-power plant to fuel its existing cornstarch milling plant in Sultan Kudarat  municipality in Maguindanao,  valued  at P486 million.

On the other hand,  Power-Up Ventures plans to construct five  oil depots   with total capacity of 5 million liters in Polloc, Parang, Maguindanao  valued at P50 million.

Other investments registered with  RBOI   included   the SR Languyan Mining Corporation’s P520 million  nickel ore mining project in Brgy. Darussalam, Languyan, Tawi-Tawi;   Agumil Philippines’ P170-million oil palm kernel  crushing plant in Buluan, Maguindanao; and  the  P10 million import-export trading  business of ABSCOR Multi-Trading Company based in Port Holland, Maluso, Basilan.

Before the  Pax  Libera Mining investment,  ARMM also  received  P192.87 million investment   from the  Darussalam Mining Corporation  for mining and quarrying operation of nickel ore  in Languyan, Tawi-Tawi  for export to China; P570 million  from  Al Mujahidun Agro-Resources and Development, Inc.  for the establishment of a  Cavendish banana plantation; and   P85.85 million  from Bangsamoro Oil and Fuels Corp   for importation, distribution and sales of   petroleum products.

Next year, the RBOI hopes to approve investments in biomass power generation, an oil depot in Tawi-Tawi, agricultural plantation investments such as banana, oil plan and buckwheat (soba noodles).

Mastura also noted that investments have been coming every quarter since last year, especially this year, the four quarters of the year have registered investments, which he hopes will become a trend and even extend next year.

President  Benigno Aquino III,  during  his  visit   in Davao City  for the Philippine Development Forum in Davao City early  this month,  lauded the  ARMM  for  the record-breaking  and all-time high  investments.