ARMM’s best year ever: P6.5-B investments in 2015

ARMM’s best year ever: P6.5-B investments in 2015

 

(COTABATO CITY. December 9, 2015.) The Regional Board of Investments – Autonomous Region in Muslim Mindanao  (RBOI-ARMM) has recorded a Php6.5 billion total investments this year exceeding 900% of its 2015 agency target of Php 700 million. This 2015, is the best year ever since the region has generated the highest value of investments in the 26-year history of ARMM.   This was reported by RBOI yesterday during the Year-End Meeting of the ARMM Cabinet -Economic Growth and Linkages (EGL) Cluster held in Cotabato City presided by cluster head RBOI Chairman, Atty. Ishak V. Mastura.

 

This year, RBOI approved eight (8) investment projects.  Al-Sahar Agri Ventures Inc.  is the biggest investor  to develop a Php 3.7 billion cavendish banana plantations in  Maguindanao. Second is Chan C. Mining  Incorporated which invested  Php742 million  for a mining and quarrying of nickel ore project  in Tawi-Tawi.  Third major investor is Lamsan Power Corporation with their power plant expansion project of an additional  5.5 megawatts worth Php687 million located in Sultan Kudarat, Maguindanao.

 

RBOI has recorded an increase of 70% in the total value of investments as compared to last year’s Php3.867 billion.  Likewise, a sum of 4,894 jobs which is 43% higher as compared to last year’s 3,433 were created this year.

 

Sixty-five (65%) percent or Php 4.3 billion of the combined value  of investment projects approved by RBOI this year are agri-based, while 24% or Php 1.5 billion are energy related  and 11% or Php742 million is a mining and quarrying project.

 

Other companies with investment projects approved by RBOI this year are: 1) Tawi-Tawian Petroleum Trading Corporation with a Php121 million petroleum project in Panglima Sugala. Tawi-Tawi ;  2)  DS3 Fuel Tanking and Services Inc. with a  Php252 million petroleum project operating at Polloc Free Port, Parang, Maguindanao; 3) Maguindanao Enegry Farms Inc. based in Sultan Kudarat, Maguindanao invested Php400 million for a 474 hectare-napier grass plantation; 4) Matling Industrial and Commercial Corporation (MICC) to establish a Php194 million  new cassava starch milling plant in Malabang, Lanao del Sur and; 5). Southsea Industrial Energy Corporation to build a  Php471 million oil refinery project in Simunul, Tawi-Tawi.(SOURCE: RBOI)