Investments in ARMM surge by 53% to P3.2B in 2017
The Autonomous Region in Muslim Mindanao (ARMM) has accepted P3.2-billion worth of investments in 2017, 53 percent higher than last year’s PhP2.11-B, the Regional Board of Investments (RBOI) reported.
The region’s top investor this year is TierOne Communications International, Inc. (Tier1) which committed P3 billion worth of investments in telecommunication including cellular services, broadband connectivity, wireless internet, and public WiFi.
Tier1 first targeted Marawi City as a pilot area for their project but when the Marawi siege occurred, the firm shifted their sight to the ARMM compound here as their new pilot area.
The second biggest investor is Bangsamoro Terminal Services, Inc. (BTSI) which planned to pump in P129 million for port related services project in Polloc Port, Parang, Maguindanao.
BTSI will provide logistics support to thriving businesses in municipalities of Maguindanao and neighboring Cotabato City.
Other big ARMM investments this year are the water treatment plant and bulk water supply project (P40 million) of Mactan Rock TGV Builders Corporation in Maguindanao; general cargo vessel with a capacity of 494 metric tons (MT) providing shipping services to traders in Tawi-Tawi (P33.5 million) of J. Sayang Shipping Lines, Inc.; and aquamarine cold storage and fish processing facility (P32 million) of Abing Seafood Cold Storage, also in Tawi-Tawi.
Lawyer Ishak Mastura, RBOI chair and managing head, said a total of 1,877 jobs were expected to be created from the projects registered in 2017.
He added that agriculture-based projects were the most in demand among investors in the region based on the investment proposals they received for 2018.
“We also foresee projects related to infrastructures, energy, as well as, banking and finance linked to rebuilding war-ravaged Marawi City,” Mastura stressed.
He noted that the regional investment thrust is aligned to the ARMM Investment Priorities Plan (IPP) for 2017-2019 approved by President Rodrigo Roa Duterte. (PNA)