News

Banks To Get Incentives To Invest In ARMM

  Apr 12, 2017    

The Regional Board of Investments (RBOI) in the Autonomous Region in Muslim Mindanao (ARMM) will be granting incentives to banks and non-bank financing institutions and facilities to include Islamic banking and finance. The expanded ARMM Organic Act (Republic Act No. 9054) allows ARMM to give incentives to banks and other non-bank financial institutions that are based or have its principal base of business in ARMM.

Incentivizing this sector could encourage conventional banks, other financial institutions like Islamic financing to set-up their business operations in the region and may address the problem of ARMM being severely underserviced by the financial sector.  According to BSP, only 20 banks are operating in the region and about 93% of the region’s municipalities do not have banking presence representing the highest percentage of unbanked regions in the country.

Lawyer, Ishak Mastura, Chairman of RBOI...

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ARMM Approves P32 Million Cold Storage And Fish Processing Investment In Tawi-Tawi

  Mar 27, 2017    

The Regional Board of Investments (RBOI) in the Autonomous Region in Muslim Mindanao (ARMM) approved today the application for registration of Abing Seafoods and Cold Storage (ASCS). The company based  in Bongao, Tawi-Tawi  will engage in a Php 32 million marine resource business. The ASCS  is into responsible and rational buy and sale of various commercially important fishery resources in Tawi-Tawi for local and international markets.
 
The company will also be into processing which includes packing and cold storage operation for fresh, ice-chilled and   frozen  fishery products.  Marine export goods will be shipped to clients in China, Singapore and Hongkong who will rely on Abing as their source of   raw materials. Abing’ s fishery export products  will be showcased into various dishes in the homes, restaurants and hotels in these countries.
 
The...

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ARMM To Study Best Practices For Ethical Investments In Bukidnon

  Mar 5, 2017    

Cotabato City. Despite the continuing risks in the Autonomous Region in Muslim Mindanao (ARMM), it has lately for the past years been enjoying a spurt in investments. Its biggest foreign investments took place in 2015 with Unifrutti’s P3.7 billion banana plantation in Maguindanao Province.
 
A delegation from the ARMM regional government led by the Regional Board of Investments (RBOI) will be attending a study visit in Bukidnon on March 6 to 9, 2017 to be facilitated by the Hineleban Foundation Inc. (HFI). The HFI has worked with Unifrutti Philippines Inc. on ethical investment practices.
 
The educational trip is part of the capability building component of the Brokering Business Investments in the Bangsamoro to Achieve Inclusive Development and Growth or the BRIDGe...

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Piracy In Sulu Sea Affects ARMM International Trade And May Setback Peace Process

  Feb 23, 2017    

(Polloc Port, Parang, Maguindanao, February 23, 2017). Piratical attacks in the Sulu Sea have began to affect international trade in Polloc Port that serves as the main gateway for international trade in the Autonomous Region in Muslim Mindanao (ARMM).
 
According to ARMM Regional Board of Investments (RBOI) chairman Ishak Mastura reports have reached their office from the port management and ARMM investors that international shipping to Polloc has been put on hold due to piracy in the Sulu Sea. 
 
"While we mourn the tragic loss of life and empathize with those abducted, we are deeply concerned that the bane of piracy in the Sulu Sea has affected our international trade leading to revenue losses for the ARMM regional government, which owns and operates Polloc Port," Mastura said in reaction to the latest piracy incident. 
 
The latest piratical attack which...

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ARMM Ports And Airports Now Among Priority BIMP-EAGA Projects

  Feb 7, 2017    

Select ARMM ports and airports have been included for the first time in the project list of the Philippines for the BIMP-EAGA Vision 2025 (BEV 2025).
 
Mindanao Development Authority (MinDA) as head of the secretariat of the Philippine contingent to the BIMP-EAGA planning meeting on January 31 to February 3, 2017 in Jakarta, Indonesia invited the ARMM to participate in the meeting. 
 
ARMM’s participation took place after a long hiatus from the BIMP-EAGA scene.
 
This is due to the efforts of MinDA chair, Secretary Abul Khayr Alonto, who made sure that ARMM is part of the Duterte administration’s renewed efforts to push the BIMP-EAGA agenda for economic...

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