View source for New Armm investment to boost Mindanao economic development

*Source: http://www.pna.gov.ph/articles/1007030
*Thursday, August 24, 2017
:By Edwin Fernandez (PNA)

COTABATO CITY -- Officials in the Autonomous Region in Muslim Mindanao (Armm) said  an investment of P129 million poured in by a terminal services firm as listed by the Regional Board of Investments (RBOI) is seen to boost the Mindanao Economic Corridors strategy for Mindanao Economic Development (MED).

RBOI-Armm last week registered the Bangsamoro Terminal Services, Incorporated (BTSI)  to operate the Polloc Freeport in Parang, Maguindanao.

“This is because Polloc Port provides easy access for bulk cargo in Central Mindanao, particularly Maguindanao, the landlocked areas of North Cotabato, Sultan Kudarat and the coastal municipalities of Lanao del Sur,” said lawyer Ishak Mastura, regional chair and head of RBOI-Armm.  

He said Polloc Port, located in Parang, Maguindanao, is a vital component of South Central Mindanao Corridor under the Mindanao Development Authority’s (Minda) Economic Development Corridors strategy for economic growth. 

The Mindanao Development Corridors is a three-dimensional development strategy that aims to increase the competitiveness of Mindanao industries by providing them with common service facilities.

It also aims to achieve physical integration among key economic clusters in Mindanao in its bid to become self-reliant and internally dependable.

Mastura said the program will also prepare the island-region towards greater economic cooperation with the BIMP-EAGA and other member countries of Asean Economic Community.

Cargo handling company in Polloc Port was previously under the PTC Mindanao Port Services, Inc. (PTC-MPSI) which was later sold to Lamsan Holdings Corporation.

In 2015, Lamsan took over the management after acquiring 100 percent of its shares of stocks including the Cargo Handling Contract with the Regional Ports Authority (RPA).

BTSI also provides trucking services to shippers utilizing the Polloc Freeport. At present, the company employs 232 workers.