ARMM sees more investments this year

• Source: http://www.pna.gov.ph/articles/1021083
• Wednesday, January 10, 2018 6:49 pm

By Noel Punzalan (PR)

COTABATO CITY -- The Regional Board of Investments - Autonomous Region in Muslim Mindanao (RBOI-ARMM) is projecting higher investment figures for the region this year.

Larzon Santos, RBOI chief investment specialist, says the agency is set to approve up to Php1-billion worth of new projects in the first quarter of the year.

Santos said some of the investors signified interest in setting up projects that would assist the government’s rehabilitation program for Marawi City.

The ARMM government is also exerting efforts to convince private investors who can become partners in rebuilding the country’s only Islamic city.

Last year, the region posted PhP3.2-B worth of investments led by TierOne Communications International, Incorporated.

TierOne’s investments included cellular services, broadband connectivity, wireless Internet, and public Wi-Fi in the region.

The company also offered its service facilities to help in Marawi’s reconstruction.

RBOI officials said the agency was committed to assist in the rehabilitation of Marawi and had organized a site visit for investors on January 11.

Santos said leading investors were also looking into the field of agriculture, considering that Lanao del Sur was an agriculture area.

“We intend to focus more on Marawi City. After the infrastructure, we are also considering the economic side of things,” Santos added.

The list of proposed projects subject for RBOI’s approval included: cacao, pineapple and banana plantations, and palm oil refinery.

The requests for such projects were currently under process, Santos said.