(COTABATO CITY- June 16, 2015). RBOI conducted a public consultation to potential and existing investors, business leaders, concerned government agencies, and other stakeholders to help review the 2014 ARMM Investments Priorities Plan (IPP) and formulate the ARMM IPP for the year 2015.
The said consultation held on June 16, 2016 at Jehan Hall, Al Nor Complex, Cotabato City is part of the regional government’s approach to actively involve all players in the planning of the region’s economic development particularly on investment matters.
The IPP shall correspond to the Regional Development Plan of ARMM in accordance with the 2011-2016 Philippine Development Plan. The identified priority economic activities shall be the basis for the granting of incentives by RBOI to qualified investors in the region. Investments projects shall be founded on the following parameters: (1) project’s net value added, (2) job generation, (3) multiplier effect and (4) measured capacity. Though the 2014 IPP to include the ARMM List is a rolling three-year plan to ensure continuity, consistency and predictability however, it is subject to annual review over the three-year period.
The 2014 ARMM IPP lists the following as priority activities: export; agriculture, agribusiness or aquaculture fishery; basic industries; consumer manufactures; infrastructure and services; industrial service facilities; engineering industries; logistics; BIMP-EAGA (Brunei Darussalam-Indonesia-Malaysia-
Philippines East Association of Southeast Asian Nations Growth Area) trade and investment enterprises; tourism; health, education, services and facilities; and halal Industry. The approval of the ARMM IPP is signed by the Office of the President, a function which was not devolved to ARMM government.
Lawyer, Ishak V. Mastura, Chairman of RBOI said that as of June 2015, about Php1.5 billion worth of projects were invested in the region. Chan C. Mining Inc. is largest investor spending Php741.8 million for its nickel ore mining and quarrying project in Tawi-Tawi. Second, is Lamsan Power Corporation which expanded their existing power plant to an additional 5.5 megawatts capacity worth Php686.7 million in Maguindanao. Third, is Tawi-Tawian Petroleum Trading, a company into importation and distribution of petroleum products which invested Php 121.2 million and is currently building an oil depot in Tawi-Tawi. All of these projects are listed in the ARMM IPP.
Recently, RBOI organized its registered firms into Promotion of Investments Sustainability Organization (PISO) to further strengthen investments generation in ARMM through a strong partnership with the private sector (PISO members). The PISO will serve as advisory body on issues related to investments and will also help promote the region as a business destination to potential investors. (SOURCE: RBOI).