ARMM offers rubber investors tax-free investments under regions’ economic zone
Economic News • 02:31 AM Thu Nov 12, 2015
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By:
Ferdinandh Cabrera
DTI-ARMM Sec. Sakiran Hajan interacts with local and foreign investors during PRIME in Davao City. (Ferdinandh Cabrera)
DAVAO CITY - As hundreds of rubber players, investors and farmers gathered here in the
2nd Philippine Rubber Investment and Market Encounter (PRIME), officials
of the Autonomous Region in Muslim Mindanao (ARMM) did not only showcase what
they had in the promoting rubber industry but also offered investors hard to
decline tax-free incentives.
Sakiran Hajan,
Department of Trade of Industry (DTI-ARMM) and chairman of the board of
Regional Economic Zone Authority (REZA), highlighted the investment incentives
during his piece of talk on investment priority areas and logistics.
He said the
incentives include exemption from duties and taxes on merchandise, tax credit
for import substitution and exemption from port duties, export tax, among
others.
Specifically,
ARMM offers its special economic zone in the Polloc Freeport and Economic zone
with 129 hectare-wide international standard port ideal for rubber industry
exports flow, other agricultural and industrial products.
Hajan reported
also the smooth relationship now with the Bureau of Customs (BOC) after the
signing of Joint-Memorandum Order with BOC chairman Alberto Lina and the REZA-ARMM.
Among key
activities during the PRIME forum were business conference, market matching and
encounter, exhibits about the rubber industry and its by-products.
sand//scontent-hkg3-1.xx.fbcdn.net/hphotos-xlf1/v/t34.0-12/12042676_1202712333088515_191257175057988431_n.jpg?oh=b9eb076fcec2dceafe4f6cabc91d3bc1andampoe=5645AFA3 PRIME aims to
serve as platform to launch the manufacturing resurgence program for the rubber
industry positioning of the least three business-friendly regions in Mindanao, with
ARMM as the new marketing hubs for rubber products.
This year the
conference will provide access to information related to business opportunities
in the entire rubber industry and value chain with emphasis on manufacturing
and processing.
More than 700
participants and investors coming from Malaysia, Singapore, Thailand, Japan,
India and European countries attended the event.