Wednesday Oct, 27 2021 09:18:11 AM

Economic News

Creation of Bangsamoro Economic Zone Authority pushed

COTABATO CITY - A Member of the Bangsamoro Parliament has filed a bill that aims at promoting and accelerating economic development in the region through the creation of a regional ecozone agency. 

Former journalist and now Member of the Bangsamoro Transition Authority Amir Mawallil, filed Parliament Bill No. 129, otherwise known as the Bangsamoro Economic Zone Act of 2021 which seeks to create the Bangsamoro Economic Zone Authority or the BEZA. 


Investment opportunities for highland farmers in BARMM held

COTABATO CITY—Business opportunities were presented to highland farmers in BARMM as they attended an investments forum on Tuesday, spearheaded by the regional Bangsamoro Board of Investments (BBOI).
In collaboration with Member of Parliament Suharto M. Ambolodto, the forum aimed to look for fair and inclusive investment opportunities to all farmers regardless of religion, groups, or tribes in the region.
Mostly, Teduray farmers from tri-municipalities of South Upi, North Upi and Datu Odin Sinsuat, Maguindanao, attended the forum.


Registered local companies to invest almost P2B in BARMM

COTABATO CITY — Regional Board of Investments (RBOI-BARMM) formally awarded the Certificate of Registration to Al-Muzafar Agriventures, Incorporated (AMAVI) and ES Maulana Global Ventures Company, Incorporated (EMGVCI) on Wednesday, Aug. 18.
The Certificate of Registrations of both AMAVI and EMGVCI, amounting to almost Php2-Billion of planned investments will serve as the signal for the 2 companies on its full swing to operate in the BARMM areas and guaranteed to avail of the fiscal and non-fiscal incentives in the region.


MTIT conducts entrepreneurial skills trainings for BARMM business enthusiasts

COTABATO CITY — Ministry of Trade, Investments and Industry (MTIT) conducted various skills and enterprise trainings for business enthusiasts in the Bangsamoro region on July 21-23 at Pagana Kutawato Native Restaurant in this city.
This is in line with this year’s week-long celebration of Micro, Small and Medium Enterprise (MSME), which carried the theme “Bangsamoro MSMEs: Go! Grow! Glow! For Resiliency, Development and Sustainability.”


Magelco continues rehab, upgrading despite pandemic, other challenges

POLLOC PORT, Maguindanao – Despite the pandemic and major challenges facing the Maguindanao Electric Cooperative (Magelco), its leaders continue to push for rehabilitation, innovations and improvements.

The latest of which was the inauguration and energization Wednesday of the so called ‘Power Super Highway’ in northern Maguindanao held at Polloc Free Port and Ecozone in Barangay Polloc, Parang, Maguindanao, according to Engr. Ashary Maongco, Magelco general manager.


BARMM logs 4.7K approved biz registrations in Q1 2021

COTABATO CITY – Despite the coronavirus disease 2019 (Covid-19) pandemic, the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has approved a total of 4,740 business name registrations (BNRs) for the first quarter of this year.

Records from the Bureau of Trade and Industry (BTI) under the Ministry of Trade, Investments and Tourism (MTIT) of BARMM showed that the significant increase in BNRs this year is 300 percent higher compared to the 1,251 business registrations for the same period in 2020.


"Are we helpless against corruption, incompetence?"

Last month, while traveling down from Manila to Mindanao via the Maharlika Highway, I took a video of the long lines of trucks waiting for their turn to be accommodated in the ferry boats which would take them from Matnog, Sorsogon to at least three ports in Northern Samar.

The truckers, many of whom transport agricultural products from Mindanao to Metro Manila and important commodities from Luzon on the trip back, complained that they had to wait for at least 3 days before they could get a space in the ferry boats.


DENR-12 donates TV sets to SK schools for environmental awareness campaigns

ISULAN, Sultan Kudarat – In a bid to effectively improve its environmental awareness campaign, the Department of Environment and Natural Resources (DENR), through the DENR Region XII, donated 40 television sets to the Department of Education (DepEd) of Sultan Kudarat (SK) on March 2, 2021 at the Kings Hall, New Provincial Capitol, Isulan, Sultan Kudarat.


BSP to promote BARMM Islamic banking and finance

COTABATO CITY - The Bangko Sentral ng Pilipinas (BSP) seeks to promote BARMM as an investment destination for Islamic banking and finance.

This is according to the regional Bangsamoro Board of Investments (RBOI), which received a letter from BSP dated February 17, 2021 in response to the RBOI’s initiative to provide fiscal and non-fiscal incentives for investment operations under Republic Act No. 11439 entitled “An Act Providing for the Regulation and Organization of Islamic Banks.”

The BSP wrote the RBOI as follows:


Cotabato Light fully energizes upgraded substation

This additional capacity of Malagapas substation will improve reliability, system durability, and increase load capacity for future growth within the franchise area.

Cotabato Light and Power Company, one of AboitizPower’s distribution utilities, has fully energized its upgraded state-of-the-art Malagapas substation.



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