BARMM to make investing in region more attractive
DAVAO CITY, Davao del Sur, Philippines — Top officials of the Bangsamoro plan to make investing in Mindanao’s autonomous region more enticing to businesses through the enactment of the Bangsamoro Investment Code that will provide incentives to investments.
The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) said it planned to pass the Bangsamoro Investment Code, which would also spell out the functions and structure of the Regional Bangsamoro Board of Investments (RBBOI), before the end of President Duterte’s term in June this year.
“With the economic reforms under the Duterte administration taking shape, BARMM has to become economically more competitive and keep up with the times,” said Mohammad Pasigan, RBBOI governor, in a statement on Friday.
The proposed code, a copy of which was submitted to Chief Minister Ahod Ebrahim, will provide for “better ease of doing business in the region” and will enhance the “effectiveness of the service delivery” of the RBBOI, Pasigan said.
It will also reinforce the implementation of the Corporate Recovery and Tax Incentives for Enterprises Act, a law that imposes uniform fiscal incentives that can be offered by all investment promotion agencies, including the RBBOI.
—CARMELITO Q. FRANCISCO
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