2013 ARMM investments hit P1.463 billion
December 29, 2013
Zamboanga City – Trade and commerce flourished in the Autonomous Region in Muslim Mindanao (ARMM) following the P1.4 billion worth of investments that various companies invested in the region this year.
ARMM-Regional Board of Investment (RBOI-ARMM) Chairman Ishak Mastura said that this year’s investment reached P1.463 billion, which is higher by 157 percent as compared to last year’s P569 million worth of investments.
According to Mastura, this is the second time that the agency hit the P1-billion mark. The first was in 2011.
This year, a total of 1,743 jobs were generated by the four firms that registered with RBOI-ARMM, which is 72 percent higher as compared to the previous year’s 1,016.
For this year, four firms registered in the region to avail of the fiscal and non-fiscal investment incentives offered by RBOI-ARMM to the investors.
Mastura named the firms registered this year as the Al-Tawi-Tawi Nickel Corporation (ANC), which emerged as the top investor, pouring in P707.9 million for an expansion project on mining and quarrying of nickel ore in Barangay Tumbagaan, Languyan, Tawi-Tawi.
The second top investor, he said, was the Bumbaran Development Corporation, which constructed 1,500 housing units worth some P365 million in Barangay Sarmiento, Parang, Maguindanao.
The La Frutera, Inc. with its 300-hectare expansion of its Cavendish banana plantation worth P300 million in the municipality of Pandag in Maguindanao came in as the third major investor, according to Mastura.
The ANC, however, will not receive any fiscal incentive from the RBOI-ARMM since the region needs their taxes for the development of the region, Mastura revealed.
The Iron Blaze Petroleum, Inc. has committed a P90-million oil depot with nine million liters capacity to be constructed at the Polloc Port, Parang, Maguindanao.
Mastura explained that the oil depot project at the Polloc Port is considered as a priority of the regional government for luring more investors because of the role that energy and oil consumption plays as catalyst for faster economic growth.
Mastura said the repeated invitation of ARMM Governor Mujiv Hataman for the businessmen to invest in the region has also gained momentum.
In another development, various government services were made available to the people of Camino Nuevo during the Dia de Alcalde caravan held at the village over the weekend.
Despite the warm weather, residents trooped to the site in order to avail of the program through the Dia de Alcalde caravan.
Among the services rendered include medical and dental consultations, free demonstrations on baking, manicure, and pedicure, massage, and hair cutting spearheaded by the City Health Office, and the Region 9 office of the Technical Education and Skills Development Authority (TESDA-9).
The Dia de Alcalde aims to provide frontline government services to where it is needed most.
Initiated by City Mayor Maria Isabelle Climaco, it is one of the ways where communities can avail of essential government services at the comfort of their own villages or communities.
A similar activity was also held earlier at the villages of Curuan, Tumaga, San Roque, and Culianan.