RBOI-ARMM launches sustainable agricultural investments
- Source:http://www.pna.gov.ph/index.php?nid=2&rid=888552
- Wednesday, May 25, 2016
- (PNA), BNB/NYP/EOF
COTABATO CITY, May 25 (PNA) -- To promote sustainable agriculture investments in the Autonomous Region in Muslim Mindanao (ARMM), the Regional Board of Investments (RBOI-ARMM) in partnership with the International Finance Corporation, the investment arm of World Bank and the Hineleban Foundation is launching today the High Carbon Stock Approach at RPDO-ARMM office in Cotabato City, investment officials said.
The HCSA is part of the Bangsamoro Sustainability Framework (BSF) that aims to promote sustainable agricultural investments in the Bangsamoro.
Lawyer Ishak Mastura, RBOI chair, said that despite some uncertainties of a new autonomy framework in the Mindanao peace negotiations, more and more private sector investors are pushing for agri-related investments in the ARMM region.
ARMM is composed of the provinces Maguindanao, Lanao del Sur, Basilan, Sulu and Tawi-Tawi.
Mastura said the country had just elected its new leaders and the new President may have different plants for the Bangsamoro but despite that, he said, more and more private sector investors are eyeing ARMM as investment destination.
For the past five years, investments in ARMM have greatly increased owing to the improved peace and order condition as a result of the government's peace overtures.
Mastura named some of the aggressive businesses that braved the negative impression about ARMM as Al Sahar Agri–Ventures Inc., Salam Agri-Ventures Corporation, Al Shayan and many others.
To facilitate the availability of the much needed financing for the projects, government is expected to enter into an agreement with multilateral and bilateral partners for a project entitled, “Harnessing Agribusiness Opportunities through Robust and Vibrant Entrepreneurship Supportive of Peaceful Transformation (HARVEST).
"In line with this, the IFC has approved a technical assistance for a pilot project on HCSA”, Mastura added.
Mastura said given the momentum of private initiatives, it will be important to ensure that, first, the private sector investments are sustainable and in harmony with the natural and cultural environments of the Bangsamoro; and second, the benefits of growth and investment are equitably distributed among the Bangsamoro population.
Dr. Urooj Malik, Hineleban chair, said the project is keen to partner with ARMM Regional Government agencies, the Philippine Business for Social Progress (PBSP), and local and international NGOs, among others, in the implementation of the HCSA at the landscape scale for the Bangsamoro region.
“This landscape level strategy will be implemented via use of the HCSA, a methodology that distinguishes forest areas for protection from degraded lands with low carbon and biodiversity values that may be developed," he said.
Urooj said the methodology aims to ensure a practical, transparent, robust, and scientifically credible approach that is widely accepted to implement commitments to halt deforestation while securing the rights and livelihood of the Bangsamoro people.
Re-elected ARMM Regional Governor Mujiv S. Hataman with a fresh mandate is supportive of the project.
"This is a welcome development making sure that agribusiness investments in the region will help propel economic growth, ensure that there will be enough resources and opportunities for the Bangsamoro people now and in the future," Hataman said.