ARMM economy remains resilient amid unstable peace

The region’s economy continued to gain resilient growth in the first semester of 2006 amidst infrequent peace and security issues.

Based on the accomplishment report of the Department of Trade and Industry-Autonomous Region in Muslim Mindanao (DTI-ARMM) for the 1st semester of 2006, the total investments generated in the region amounted to P288.733 million.

This data shows a 12% increase compared to the investments generated for the same period in 2005 which was at P254.376 million.

“Our effective approach to contain the negative impact of recent conflicts in the different areas of the region has dramatically contributed to the improvement of the region’s economy,” said ARMM Governor Datu Zaldy Uy Ampatuan.

The mobilization of the Regional Peace and Order Council (RPOC) and the strengthening and coordination of Local Government Units (LGUs) have made possible the enforcement of effective mechanisms to mitigate armed conflicts and other peace and security issues.

The regional government has also extended strong support to LGUs which greatly facilitated the implementation of programs and projects designed to establish peace and development in the region.

Tawi-Tawi registered the highest investments with P103.353 million followed by Marawi City with P64.141 million, Maguindanao with P37.587 million, Lanao del Sur with P34.637 million, Sulu with P31.710 million and Basilan with P17.31 million.

The service expansion of a cellular company and putting up of hatchery projects contributed largely to the total investments in Tawi-Tawi. SMART Communications constructed 8 cellsites in 8 island municipalities in the province.

Only 18% of the province’s total investments were generated through business name registrations. Employment in the region has also improved this year in comparison to the same period in 2005.

The jobs generated for the 1st semester of the year totaled to 3,394 manifesting a 3% increase from the 3,282 jobs recorded in 2005.

Further, the number of business names approved grew by 36% from 301 to 470. Again, Tawi-Tawi recorded the highest with 175, followed by Marawi City with 91, Maguindanao with 86, Basilan with 62, Sulu with 29, and Lanao del Sur with 27.

“We hope to continuously improve the positive economic performance of the region through the sound implementation of the Regional Economic Agenda (REA),” Ampatuan said.

The recent conduct of the 5th ARMM Business Congress in Lamitan, Basilan is expected to draw in more investments into the region as well create additional business opportunities to local entrepreneurs.

Tawi-Tawi, which continuous to experience tremendous economic improvement, played host to the previous ARMM Business Congress.

The regional government is likewise implementing measures to jumpstart the region’s Halal industry. Foremost of which is the establishment of an arrangement for technical assistance with JAKIM, Malaysia’s halal certifying body. (BPI-ARMM)