ARMM holds investment consultation in Mindanao

COTABATO CITY, Philippines (Mindanao Examiner / Feb. 16, 2010) - As an offshoot of the Strategic Planning Conference of the Autonomous Region in Muslim Mindanao held last month in Cagayan de Oro City, the Regional Board of Investments in ARMM held Tuesday a public consultation and hearing on the Investments Priorities Plan in Cotabato City.

With a theme “Maximizing Opportunities of a Stronger ARMM Economy” and a set goal ‘More Investments, More Jobs,” Board Chairman and Managing Head lawyer Ishak Mastura cited the ARMM's investment advantage because it is the only region in the country where a board has been devolved by virtue of Executive Order 458 by then President Corazon Aquino.

“RBOI-ARMM is empowered to determine its investment priorities, supervise enterprises duly registered with the ARMM Regional Government, cancel certificate of registration to include those registered by the national board, evaluate incentives uniquely found in ARMM, determine income tax holiday and to supervise registered projects,” Mastura said in a statement.

Executive Secretary lawyer Naguib Sinarimbo praised the management of RBOI-ARMM for its timely and prompt conduct of the one-day public hearing and for the involvement of various public and private sectors in determining the Investments Priorities Plan for the autonomous region.

Sinarimbo said that it is not only the political aspect of governance that should be considered, but more importantly, the investment climate for investors which E.O.458 has accorded ARMM in contrast with other administrative regions.

“The competitive advantage of ARMM as investment destination is one good reason to attract investors to come,” Sinarimbo said.

As to the peace and security aspect, Sinarimbo pledge to decisively address the same as it would need sometime to seriously tackle security concerns in the region.

The Department of Agriculture and Fisheries and the Department of Trade and Industry are presently pushing for the necessary infrastructure support for the Polloc Port as a "free port," to complement RBOI’s effort to further attract local and foreign investors.

“With 26 new registered firms, P8.6-billion investments and 15,300 generated employments last year, the new IPP, is hoped to usher more investments in the region for this year,” Mastura said.