Business congress boosts investment in ARMM, says Ampatuan

text & photos HADER GLANG

ARMM Trade and Industry Secretary Ishak Mastura , ARMM Business Council Chairman Haron Bandila (center) and ARMM Bureau of Public Information Director Samson Gogo update media on the major accomplishments of the ARMM Business Congress in a press conference in Basilan. (Below photo) ARMM DTI Undersecretary for regional operations Carissa Cruz-Evangelista, assisted by other ARMM officials, cuts the ribbon signaling the opening of the product bazaar and product exhibits.

OFFICIALS of the Autonomous Region in Muslim Mindanao (ARMM) have made several important announcements at the first day of the 5th ARMM Business Congress in Lamitan, Basilan. These include the significant increased of investment generation in the region.

In a prepared speech, ARMM Governor Zaldy Ampatuan said economic data shows that investment in the autonomous region has significantly increased in 2004 and 2005 with P511.9 million and P439.8 million, respectively, compared with the year 2001 which registered investment generation of P258 million.

These increases in investments are largely attributed to business expansion of major industries in ARMM. Combined investment generation registered both at the DTI-ARMM and RBOI-ARMM totaled to P1.4 billion which garnered a total employment generation of 11,561 individuals for the year 2004.

“The ARMM Business Congress has significantly stimulated the business climate of the region. This generated 12 percent increase in investments from P194.97 million for the period January-May 2005 and to P222.77 million for the same period in 2006,” Ampatuan said.

One of the major and concrete accomplishments of the annual event is the enactment into law of the Regional Economic Zone Authority (REZA), which provides the regulatory framework for the industrial development of the ARMM. This triggered the efforts toward the development of the Halal industry and also revitalizes the creation of the International Polloc Free Port in Parang, Maguindanao.

“Taking cue from these results, I am looking forward that this year’s business congress will double the gains of the previous ones and will lead to more beneficial results in the development of the region’s vital industries such as Halal, rubber and seaweeds,” Ampatuan said.

Stable peace and order condition in order to attract further investments in the ARMM and close coordination and active participation with the local government units in the implementation of programs and projects are also among the main concern under the Ampatuan administration.

“I fully support the peace process with the MILF and MNLF in accordance with the President Arroyo’s current peace and development thrust. I hope with the impending success of the peace process, more investors will invest in ARMM,” he said.

The ARMM Business Congress is a vital link between the regional government and the business sector towards the implementation of the programs and policies that are essential to the region’s socio-economic development.

The annual event began in Cotabato City in Maguindanao five years ago. It was then followed in Marawi City, 3rd in Jolo, Sulu and fourth in Bongao, Tawi-Tawi. The event was, alternately held in the five provinces for the ARMM constituents to have the chance of putting their province into spotlight and showcase its investment potentials to the visitors or investors. (ZS)