RBOI Offers Fiscal Incentives To P8-B Banana Investments In Camp Abubakar
Jan 16, 2019
(Cotabato City, January 16, 2018). The Regional Board of Investments (RBOI) has offered fiscal incentives to the planned Cavendish banana plantation in the former Camp Abubakar that used to be the headquarters of the Moro Islamic Liberation Front (MILF).
Russian investors led by French-Russian Robert Gaspar, accompanied by Agriculture Secretary Emmanuel Piñol, inspected the proposed investment area in Barangay Oring, Buldon, Maguindanao on Monday and identified 5,000 hectares suitable for midland bananas and 2,000 hectares for highland bananas.
MILF Central Committee member Edward Guerra and former Buldon Vice Mayor Hadji Nasruddin Maluag welcomed them.
Under the Investment Priorities Plan of the government, agricultural investments are entitled to fiscal incentives such as 4 to 6 years income tax holiday, reduced duty importation of capital equipment, exemption from wharfage dues for exporters, customs bonded warehouse facility, among others.
If the P8-B project is realized it will jump start business investments in the new political entity of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
January 21 is the date of the plebiscite for the Bangsamoro Organic Law which is expected to win. (Source: RBOI)