Investments in ARMM remain buoyant
Cotabato City (06 March 2015) – Investments in the Autonomous Region in Muslim Mindanao remain buoyant despite recent security concerns in certain areas of Maguindanao province, the region’s investment board said Thursday.
Two companies based in the island town of Panglima Sugala in Tawi-Tawi – the Tawi-Tawian Petroleum Trading Corporation and Chan C Mining Incorporated – registered a total of P863 million worth of new projects with ARMM’s Regional Board of Investment in the first quarter of this year.
Tawi-Tawian Petroleum Trading Corporation is into the importation and distribution of petroleum products, while Chan C Mining is engaged in mining and quarrying of nickel ore exported to China.
ARMM Governor Mujiv Hataman said investors’ confidence in the region is still high. “Pagdating sa investments, so far wala pa namang umaatras. Tuloy ang investments sa Maguindanao. Nagkausap kami ng mga investors at nang kanilang foreign partners at nasabi nilang itutuloy nila ang kanilang mga investments.”
RBOI said a string of projects are in the pipeline this year for Maguindanao, which includes a P1.3 billion palm oil plantation and a P2 billion banana plantation.
Lawyer Ishak Mastura, RBOI chair, said there are also pipelined projects in other parts of the region that include an expansion of capacity biomass power plant, rehabilitation of a starch factory, expansion of banana plantation, and construction of an oil depot.
According to Jun Macalawan, RBOI supervising investment specialist, the incident in Mamasapano and the ongoing joint law enforcement operation of the police and military in parts of Maguindanao have not discouraged foreign and local investors from expanding their businesses in the region.
He said their trust in the good governance initiatives of the present ARMM administration and in the ongoing peace process are the main reasons for their confidence in the region’s economy.
In 2014, ARMM generated more than P3- billion worth of investments, at least 400 percent of its target of P700 million for that year. (Bureau of Public Information)