MAP to promote Armm as investment destination

• Source: http://www.sunstar.com.ph/zamboanga/local-news/2017/05/22/map-promote-armm-investment-destination-543271
• Monday, May 22, 2017

By Bong Garcia (SunStar Philippines)

THE Management Association of the Philippines (MAP) on Monday, May 22, signed a manifesto expressing its support to promote the Autonomous Region in Muslim Mindanao (Armm) as an investment destination.

Stipulated in the manifesto, the MAP urged its members and its various committees to integrate action plans in coordination with the Armm’s Regional Board of Investment (RBOI) to achieve this objective.

The MAP “manifests long term commitment to advocate policies for a competitive and stable policy environment to encourage and enable private sector investments in the Armm and to support productivity programs/projects in tourism, seaweeds, mariculture, tree crops, basic infrastructure, energy, education, research, SME (small and medium enterprises) among other opportunities under the RBOI IPP (Investment Priorities Plan).”

The group’s commitment came after RBOI-Armm Chairman Ishak Mastura told the country’s top managers that the region is ready for more business investors.

He said that all businesses, including foreign investors, are welcome in Armm.

He said that prospective investors in the region want access to financing from local banks to balance the risk.

“If you give access to financing, we will find the investors for you,” he said.

Mastura added that currently, banks hardly lend to private businesses in Armm even as big companies based in the National Capital Region are not coming in.

The MAP officials represent the county’s biggest businesses including major financial institutions.

Among those present in the dialogue between the RBOI-Armm and the MAP are former Interior and Local Government Secretary Rafael Alunan, former Foreign Affairs secretary Albert del Rosario, former Board of Investments chief Melito Salazar, former Tourism secretary Mina Gabor, former Socio Economic Planning Secretary Cielito Habito, and American Chamber of Commerce Philippines president John Forbes.

The MAP’s committees cover Agribusiness and Countryside Development, Trade, Investments and Tourism, Energy; Management Development, and Traffic, Transportation and Infrastructure.