ARMM execs say region drew P1B in investments
COTABATO CITY–The Autonomous Region in Muslim Mindanao (ARMM) has posted what officials said was a record amount of investments in 2013, indicating growing confidence on the five-province region, which the government wants to replace with a larger autonomous area under a peace agreement with Moro rebels.
Gov. Mujiv Hataman said the region generated some P1 billion in investments in 2013, much higher than the amount of investments that came in in 2012.
He said gains in the peace talks between the government and the Moro Islamic Liberation Front (MILF) are the main reasons for the growing confidence among investors.
“President Aquino’s peace initiative with the MILF that would lead to the establishment of a new Bangsamoro Government seems to have drawn tremendous investment in the ARMM as we end 2013,” Hataman said.
Based on figures provided by the ARMM’s Board of Investments chief, Ishak Mastura, the total investment for the year is P1.463 billion.
This, he said, was 157 percent higher than last year’s P569 million worth of investments.
Article continues after this advertisementThe investment surge, Mastura said, echoing Hataman, is due to the government’s peace initiative with the MILF.
Article continues after this advertisement“Investors were encouraged to do business in the region due to the perceived stability that a signed peace agreement is expected to usher in,” he said.
Mastura also credited Hataman’s “radical reform initiatives against misfits in government and improved business climate” as other reasons businessmen now have confidence in the region.
The ARMM is made up of the provinces of Maguindanao, Lanao del Sur, Basilan, Sulu and Tawi-Tawi.
Among the investors, which helped prop the ARMM’s investment figures this year, was Al-Tawitawi Nickel Corp. which poured in P707 million.
Al-Tawitawi is expanding its nickel ore mining facilities in Barangay Tumbagaan in the town of Languyan in Tawi-Tawi.
Other top investors included the housing firm Bumbaran Development Corp. and Iron Blaze Petroleum Inc. Charlie C. Señase, Inquirer Mindanao
