ARMM sees more investments in 2015

COTABATO
CITY – The Autonomous Region in Muslim Mindanao (ARMM) sees
brighter, more investments to come in the region in 2015, officials said today.”About
Php1 billion or more worth of investments is expected to pour in the ARMM this
2015,” Lawyer Ishak Mastura, chair of the ARMM Board of Investments (RBOI).
These
projects are into biomass power generation, mining, oil depot inTawi-Tawi, and agriculture related projects
such as banana, oil palm and buckweat plantations, considered as fresh
investments from foreign, local investors and existing firms in the region with
expansion plans.
Mastura
remained optimistic that the agency will meet its target in 2015 which is to
register a total of Php700 million worth of investments in the region.Atty.
Mastura further said that aside from the continuous effort of the national
government to pursue peace and development in Mindanao through the Bangsamoro
Basic Law (BBL) and the reforms in governance by the Hataman Administration,
the ARMM also posses’ major advantages as an emerging investment destination.
The
region has about 500,000 hectares of available land potential for oil palm,
coconut, corn, banana, rubber and other crops. It is also not affected by
typhoons and floods which make it conducive for agri-investments,” Mastura said
in a separate statement, issuing caution to prospective investors.
”As
a cautionary note he said that investors to the region must get local reputable
partners to mitigate investment risks and must see to it that there is social
acceptability of their investment projects,” Mastura said.
He
added that investors must take due diligence on land tenure or land ownership
if they engage in plantation projects in order to avoid future problems
regarding questionable land titles or land tenure. Since
ARMM is home to a large Muslim population, it is being developed as the Halal
Hub becoming the production and market based for Halal products and services
not only in the country but also in the ASEAN. Infrastructure,
logistics, telecommunications and other utilities are already present to
support and sustain the growth of large industries in the region. ”Continuous
improvements is a must in the region to entice more investors,” Mastura added.

andltpandgtIn
2014, ARMM generated a total of P3.857 billion investment.Forty-six
percent of these projects were invested in biomass renewable energy with total
value of Php1.773 billion. Thirty-one
percent (31%) are projects in nickel mining amounting to P1.198 billion, while
P740 million or 19 percent were agri-based projects. The remaining 4 percent were
projects into petroleum product distribution and trading with combined value of
P146 million. Out
of these investments, 3,422 jobs were created.Lamsan
Power Corporation is the biggest investor in 2014 which built a Php921 million
biomass power plant at Sultan Kudarat, Maguindanao followed by Al Mujahidun
Agro Resources and Development, Inc. (AMARDI) investing in a P570 million, 500
hectare cavendish banana plantation in Ampatuan, Maguindanao.Third
major investor is SR Languyan Mining Corp. which is into nickel ore mining and
quarrying worth Php520 million in Languyan, Tawi-Tawi.
ARMM
Governor, Mujiv S. Hataman said that ARMM’s economy has accelerated from 1.1
percent in 2012 to 3.6 percent in 2013 and is expected to increase in 2014. ”This
means that ARMM is fast coping with the challenges of socio-economic
development. This is a sign of an improving economy, a product of relentless
reforms in governance and peace which is good for business,” Hataman said. Now
is the opportune time to grow as the country’s brightest investment area as we transition
from the present ARMM setup to the Bangsamoro government in 2015,” he said.