ARMM Bullish On Investments To Rebuild Marawi
Nov 17, 2017
"Now is the time to start the rehabilitation process. Though, we are deeply saddened by what happened to Marawi City which is currently in serious ruins however, we have to move forward and turn this crisis into opportunities”, RBOI chair and managing head, lawyer Ishak V. Mastura, said in a statement during a recently conducted Investments Priorities Plan (IPP) Roadshow in Cagayan de Oro City organized by the Regional Board of Investments (RBOI), Autonomous Region Muslim Mindanao (ARMM).
Guests who came to the ARMM Investments Priorities Plan (IPP) Roadshow in Cagayan de Oro
City on November 11, 2017. From left Dr. Urooj S. Malik, CEO and Chairman of Hineleban
Foundation, Elian Macala, Chairman of Bangon Marawi Chamber of Commerce, John P. Perrine,
CEO and Chairman of Unifrutti Group Philippines, Atty. Ishak V. Mastura, Chairman and
Managing Head of RBOI, Napoleon E. Concepcion, BOI-National Board of Governor and Lourdes
Ellen Kionisala, Chief of CDO-BOI Extension Office.
The roadshow was focused on investment opportunities in a post Marawi siege business environment. This event is one of the ARMM regional government’s (ARG) preliminary strategies in rebuilding the city by encouraging businessmen to invest in the Province of Lanao del Sur and Marawi City.
One of the priority investment areas identified for the immediate restoration of the city is infrastructure. Given that major infrastructure facilities were destroyed such as school buildings, hospitals, establishments, roads and bridges among others, there is an urgent need for bold investors to come and construct these infrastructures to facilitate the flow and delivery of services and goods to the people of Marawi.
Agriculture, inclusive business, BIMP-EAGA trading, banking and financing are some of the investment opportunities that can be explored by investors. These investment projects are critical to support the urgent need for Marawi to get back on track. RBOI is facilitating the registration of qualified investors for availment of incentives being provided by the government.
Around 200,000 individuals were displaced brought about by the urban war between the terrorists Maute Group and government troops that erupted on May 23, 2017 and ended on 23 October. The crisis shut down the economy of Marawi City which is the capital of the Province of Lanao del Sur.
John Perrine, CEO and Chairman of Unifrutti Group Philippines who was one of the speakers encouraged the investors who were present in the roadshow to invest and help recover the place. Perrine also said that it is passion and commitment that made him succeed in his investments in ARMM and hopefully will inspire other investors to follow the same despite of the region’s security issues.
In a statement, ARMM regional governor Mujiv S. Hataman said that since the conflict has ended, this means that businessmen can now continue with their business and expansion plans in Marawi City and in the region in general. “The ARG is committed to assist our investors in whatever way we can to show that Marawi City is back in business”, Hataman added.