ARMM investments hit P1.463B in 2013 PDF Print E-mail
Saturday, 28 December 2013 11:07

Investments in the Autonomous Region in Muslim Mindanao (ARMM) have reached more than P1 billion in 2013, the Regional Board of Investments (RBOI) announced Friday.

This year’s investment reached P1.463 billion which is higher by 157 percent compared to last year’s P569 million worth of investments.

It was the second time that the agency hit the P1 billion mark. The first was in 2011.

The RBOI made this feat during the administration of Lawyer Ishak Mastura, as chair and managing head of RBOI-ARMM.

Mastura said one of the factors attributed by the RBOI to the increase in investments was the signing of the “Framework Agreement on the Bangsamoro” between the Philippine Government and Moro Islamic Liberation Front on October 15, 2012.

Investors were encouraged to do business in the region due to the perceived stability that the peace agreement will bring about.

Mastura said the active involvement of ARMM Regional Governor Mujiv Hataman as the region’s chief or lead investment promoter made a strong impression to foreign and local investors.

“Let us make the business environment conducive and friendly to our investors,” Hataman said in previous statements.

“Huwag nating pahirapan ang mga negosyante na maglagay ng puhunan sa ARMM (Let us not make it difficult for businessmen to put their investments in ARMM),” he then said, repeatedly.

Mastura said the repeated invitation of Hataman, as chief endorser of ARMM added so much confidence and trust in the administration by investors in expanding their business ventures or going into new enterprises.

In its, the RBOI has registered four firms this year to enjoy investment incentives both fiscal and/or non-fiscal.

These include the Al-Tawitawi Nickel Corporation (ANC) which emerged as the top investor that poured in P707.9 million for an expansion project on mining and quarrying of nickel ore in Barangay Tumbagaan, Languyan, Tawi-Tawi.

However, ANC will not receive any fiscal incentives from RBOI since the ARMM needs their taxes for the development of the region.

The second top investor was the Bumbaran Development Corporation, which constructed 1,500 housing units worth P365 million in Barangay Sarmiento, Parang, Maguindanao.

La Frutera, Inc. with its expansion of 300 hectares of Cavendish banana plantation with a project cost of P300 million in the Municipality of Pandag, Maguindanao came in as the third major investor.

The company has been operating in ARMM particularly in Maguindanao since 1997.

The Iron Blaze Petroleum, Inc. has committed a P90 million Oil Depot with 9 million liters capacity to be constructed in Polloc Port, Parang, Maguindanao.

The Oil Depot project in Polloc Port is considered as a priority of the regional government for luring more investors to the region because of the role that energy and oil consumption plays as catalyst for faster economic growth.

This year, a total of 1,743 jobs were generated out of the 4 firms registered with RBOI, which was 72 percent higher as compared to the previous year’s 1,016.