ARMM investment up despite Mamasapano clash

COTABATO CITY -- The recent incident in Mamasapano in Maguindanao failed to weaken the enthusiasm of investors over prospectsof pouring money in the Autonomous Region in Muslim Mindanao.Two projects with a combined value of P863.05 million are now up for final approval, the ARMM Regional Board of Investments (RBOI) announced today after the go signal issued by the board's management committee (Mancom).The two projects have been cleared of technical and procedural hurdles, said RBOI. The endorsement by Mancom means the projects will now go through deliberations and possible approval by theBoard of Governors of the RBOI who will meet before the end of the month.The said projects are the P741.8 million nickel-ore mining project ofChanC Mining, Inc.inPanglima Sugala in Tawi-Tawi, and the P121.25 million petroleum depot project of Tawi-Tawian Petroleum Trading Corporation, also in Panglima Sugala. The mining project is expected to produce 1,000,000 MT of nickel per year, while the depot project has a 7.6 million liters capacity.Anddespite the Mamasapano incident, RBOI is currently processing investment projects in Maguindanao, particularly on renewable energy and oil palm and banana plantation. RBOI is also assessing the multi-billion peso logistics center proposed at the Port of Polloc in Parang, Maguindanao.In ARMM, Maguindanao remains a top investor destination, followed closely by Tawi-Tawi, RBOI said.Maguindanao biz remain upbeatProvincial officials on Friday said a high-profile agricultural investment cooperation agreement was, in fact, forged by the wealthy Malaysian Naza Company and representatives of Maguindanao Gov. Esmael Mangudadatu in Malaysia two days after the incident.The encounter, which left 44 policemen, 18 Moro Islamic Liberation Front (MILF) guerillas and four civilians dead, shook the nation to its core.Bai Sandra Siang, chairperson of the Muslim Chamber of Commerce and Industry of Kutawato, Inc., said their trading contacts abroad remained confident of the business climate in the province despite the incident. That confidence was even bolstered by their having read from news websites how the government and the MILF prevented escalation of hostilities and how both sides are doing everything to prevent that sad incident from affecting the Mindanao peace process,” Siang said.Siang said most of their counterparts abroad with business interests in Cotabato City and Maguindanao have closely been monitoring the peace process. Actually many of them came in as the government-MILF negotiations gained headway in the past three years,” Siang said.Siang said none of their contacts abroad signified intention of suspending their on-going ventures in Maguindanao and surrounding provinces under Administrative Region 12 after the January 25 Mamasapano hostilities.A member of the provincial board, lawyer Bobby Katambak, said he and other representatives of Mangudadatu signed in Malaysia a multi-million agricultural investment tie-up with the Malaysian Naza Company two days after the incident. That firm, which is a multi-national entity, will put up pineapple plantations in the neighboring North Upi and South Upi municipalities in the province,” Katambak said.He said it was Mangudadatu who was supposed to sign the agreement in Malaysia, along with officials of the Malaysian agricultural outfit.However, Katambak said the governor cancelled his January 25 flight to Kuala Lumpur after learning that firefights had erupted in three barangays in Mamasapano between members of the police’s elite Special Action Force and the MILF, and a third group, the outlawed Bangsamoro Islamic Freedom Fighters.