Cotabato City, December 18, 2014. The Regional Board of Investments (RBOI) announced yesterday that they have registered an unprecedented P3.867 Billion investment in the Autonomous Region in Muslim Mindanao (ARMM).
The announcement was made after the RBOI approved yesterday in its board meeting the nickel-mining project of Pax Libera Mining, Inc. worth P495 million in Languyan, Tawi-Tawi. In accordance with the investment policy of the regional government, no income tax holiday or fiscal incentives were given by the RBOI to the mining company because it is engaged in an extractive industry and the regional government wants to avail of the full rents and revenue generating potential of such investments in the extractive industry.
There is no official policy welcoming or encouraging mining investments in ARMM and the mining investors have to get the full consent and social acceptability of the communities they operate in even before they are allowed to...
Cotabato City (December 2, 2014). ARMM Regional Governor, Mujiv S. Hataman delivered his second State of the Region Address (SORA) yesterday. One of the highlights of his probably last SORA was that his Administration has achieved accumulated P5Billion investments from the time he was OIC in 2012, his election in 2013 up until today.
Hataman attributed the dramatic increase in investments to the cumulative positive effects of the peace process and the ARMM reforms on governance, thanking in particular RBOI chairman and managing head, lawyer Ishak V. Mastura for the remarkable turnaround of investments in the region.
RBOI also recorded a total of 5,753 jobs created from 2012 to 2014. Here is a summary report from RBOI.
Number of Registered Firms, Value of Investments Generated, and Jobs Created from CY 2012, 2013, Jan-Nov 2014 (during Hataman...
COTABATO CITY. November 19, 2014. The Autonomous Region in Muslim Mindanao (ARMM) considered the poorest region in the country is hoping that a program on entrepreneurship can spur more economic activity in the region.
Regional Board of Investments (RBOI) chairman, lawyer Ishak Mastura, who also heads the ARMM cabinet cluster on economic growth and linkages announced the program to develop entrepreneurship in the region after attending and representing the country at the United Nations Industrial Development Organization (UNIDO) conference dubbed "Fostering Entrepreneurial Youth" in Vienna, Austria on November 11-13. More than 50 countries were represented at the conference, particularly countries
Davao City. November 6, 2014. President Aquino in his speech at the Philippine Development Forum on the Bangsamoro said that the record breaking and all-time high investments in the ARMM amounting to P3.3-B this year is part of the early gains of overall peace process in Mindanao. In particular, the government's landmark peace agreement with the Moro Islamic Liberation Front, brought about stability and a good climate for investments in the ARMM. He said in his speech that:
"The early impact of our efforts at peace, stability, and fostering a good business climate, has been near instant. Just look at ARMM. In just the first nine months of 2014, they registered a yearly all-time high of P3.37 billion in investments. This is more than double the P1.46 billion in investments recorded in 2013, and almost six times the P569 million in investments ARMM received in 2012. ARMM’s GDP has...
COTABATO CITY. September 12, 2014. The business and private sectors have given their vote of confidence to the quick approval of the Bangsamoro Basic Law (BBL) in Congress. The ARMM which the Bangsamoro political entity will replace in 2015 is currently enjoying a business boom heralding an era of peace and prosperity for the Bangsamoro and Mindanao if all goes well.
According to a latest report of the Regional Board of Investments (RBOI), three firms were approved for registration by the agency.
The three firms namely, Darussalam Mining Corporation, Al Mujahidun Agro-Resources and Development, Inc. and Bangsamoro Oil and Fuels Corporation posted a total of Php 848 million worth of investment projects and generated 1,210 jobs in the ARMM.
The addition of the three to the...