Investments keep coming to Armm
- Source: http://www.pna.gov.ph/articles/1005860
- Friday, August 11, 2017 6:07 pm
- By Edwin O. Fernandez (PNA)
COTABATO CITY, Aug 11 -- The Marawi Crisis did not stop investors from pouring in capital in the Autonomous Region in Muslim Mindanao (Armm, investment officials Thursday said.
The Regional Board of Investments (RBOI-Armm) announced the approval of a P129-million port related services in Parang town in Maguindanao, about two hour drive from Marawi City.
Lawyer Ishak Mastura, RBOI-Armm chair, said the Bangsamoro Terminal Services Inc. (BTSI) based at Polloc Freeport in Parang invested in this project to provide efficient logistics support to the thriving businesses in the provinces of Armm such as Maguindanao and Lanao del Sur, also the provinces of North Cotabato and Sultan Kudarat, both in Central Mindanao including Cotabato City.
Mastura, also managing head of RBOI, said that with the addition of BTSI, the worth of investments registered with RBOI this 2017 is now at P3.2 billion.
“This signifies an uninterrupted growth of investments in the region despite the Marawi crisis,” Mastura said in a statement.
”The company’s reliable services of delivering the goods to customers on time and in right condition have strengthen local businesses. Cargo handling is very critical in the logistics and supply chain, problems in the cargo movement will cause delays and will cost a lot of money to enterprises,” Mastura added.
The cargo-handling company was owned by PTC Mindanao Port Services Inc. (MPSI) organized in Manila in 1979 and expanded its operations in Zamboanga City. PTC-MPSI rendered arrastre, stevedoring, other port related services and eventually entered into trucking business.
The first chair of its board of directors was former Philippine president Fidel V. Ramos. In 2014, PTC-MPSI offered to sale the company to Maguindanao based Lamsan Holdings Corp.
In March 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).
In February 2016, with the approval of the Securities of Exchange Commission (SEC), the new management changed its name from PTC-MPSI to now BTSI. According to BTSI manager Luigi Piccolo V. Peña, the company is a holder of a 15-year Management Contract with the Regional Ports Management Authority (RPMA) for its operations at Polloc Freeport from May 2007 to April 2022.
“The project will effectively impact the flow of goods and services. This will make the businesses strong within towns and cities in Armm and Central Mindanao bringing more jobs into these areas,” Regional Gov. Mujiv Hataman said as he welcomed the new investment.
Mastura said companies that register investment with RBOI are entitled to fiscal and non-fiscal incentives, such as Income Tax Holiday, duty free importation of capital equipment including genetic stock material, exemption from wharf duties, use of custom-bonded warehouse and streamlined custom procedures and issuance of investor visa for foreign nationals, among others.