(Cotabato City. October 4, 2018). The Regional Board of Investments (RBOI) of the Autonomous Region in Muslim Mindanao (ARMM) together with the Philippine Business for Social Progress (PBSP), Hineleban Foundation Inc. (HFI), and the Australian Embassy recently launched the Business Sustainability Framework in the Bangsamoro (BSFB) in Makati City.
The launching was highlighted by a turnover of the BSFB Resource Book “Engaging with the Bangsamoro Communities: the Key to Sustainable Business in Muslim Mindanao” and the showing of investment promotion videos incorporating the essential narratives of the BSFB.
The BSFB is formally introduced to the public after it was developed through the implementation of the “Brokering Business Investments in the Bangsamoro to Achieve Inclusive Development and Growth”(BRIDGe) Program.
The BSFB reveals the secrets of success by investors who made it in the ARMM through their business models. The heart of the Framework is the willingness and readiness of investors and the communities to engage in a transformational business partnership that will result to an inclusive, equitable and sustainable growth in the Bangsamoro.
In his message during the launching, lawyer, Ishak Mastura, chairman and managing head of RBOI stressed that “we need champions from the private sector who have a higher purpose in mind besides profits to contribute to social cohesion in the region as exemplified in the BSFB”.
“The development of the BSFB is a breakthrough and just in time for a transition from the present ARMM to the new political entity, Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). The BARMM created through the enactment of the Bangsamoro Organic Law (BOL) and eventually through a plebiscite will be established with a parliamentary system under the national government framework” Mastura added.
With the BOL, there will be expected changes of administrative structures, rules and regulations, economic systems, etc. This will have implications to the respective operations of existing businesses and most importantly to those who yet plan to invest.
“Fortunately, we have the BSFB as reference that will guide the new Bangsamoro government to prepare and develop the required business environment and equip the investors the right information and attitude to continue or put up new businesses in a new political set-up”, Mastura further said.
In a statement, ARMM Regional Governor Mujiv Hataman, thanked the program partners for their help through livelihood and investment projects that continue to make meaningful impacts in the lives of hundreds of families in the region.
“The BSFB is a welcome approach in the Bangsamoro, for it promotes a paradigm shift in building businesses, placing community engagement as an integral part of the business plan and implementation. Some of the guiding principles of the BSFB are the recognition of cultural practices and heritage, compliance to standards and support to community development initiatives. We need to make investors understand this to encourage more investments & ensure sustainable business for the future of the Bangsamoro”, Hataman further said.
Important personalities who came to the event were former DepEd Secretary now PBSP President, Br. Armin A. Luistro FSC, Political and Public Affairs Counsellor, Australian Embassy in the Philippines, Ms. Clare Duffield, PSBP Executive Director, Reynaldo Antonio Laguda, Chairman of HFI and Founder CEO of UGP Ltd, Inc., Mr. John P. Perrine, Chairman of the Bangsamoro Development Agency (BDA), Dr. Saffrullah M. Dipatuan, DTI-ARMM Secretary, Atty. Anwar Malang and ARMM Business Council (ABC) Chairperson, Dr. Rima Hassan,Ph.D.
Also in attendance were members of the ARMM Economic Growth and Linkage (EGL) Cluster - Technical Working Group (TWG) composed of representatives from the Regional Board of Investments (RBOI), Regional Planning and Development Board (RPDO), Department of Trade and Industry (DTI), Department of Environment and Natural Resources (DENR)), Department of Agriculture and Fisheries (DAF), and the Cooperative Development Agency (CDA).
The BRIDGe program is being funded by the Australian Embassy. (Source: RBOI)