President Aquino lauds ARMM for record high P3.3-B investments

DAVAO CITY -- President Aquino has lauded the efforts of officials of the Autonomous Region in Muslim Mindanao and cited the record breaking and huge investment it generated, a ranking ARMM investment official said today. Lawyer Ishak Mastura, Regional Board of Investments (RBOI) chairman and managing head, said the President, in his speech during the Philippine Development Forum on the Bangsamoro in Davao City, described the all time high P3.3 billion investment this year as part of the early gains of over-all peace process in southern Philippines.MILF chair Al Haj Murad and members of the MILF central committee were present during the event. In a statement Friday night, Mastura said in particular, President Aquino said the government's landmark peace agreement with the Moro Islamic Liberation Front has brought about stability and a good climate for investments in the ARMM. Mastura quoted President Aquino as sayingand The early impact of our efforts at peace, stability, and fostering a good business climate, has been near instant. Just look at ARMM. In just the first nine months of 2014, they registered a yearly all-time high of P3.37 billion in investments. This is more than double the P1.46 billion in investments recorded in 2013, and almost six times the P569 million in investments ARMM received in 2012. ARMM’s GDP has likewise been on an upswing, from a contraction of 0.3 percent in 2011, to a growth of 1.2 percent in 2012, and a growth of 3.6 percent in 2013. I am told that the growth of 5.6 this year is very attainable. Mastura thanked the President and ARMM Regional Governor Mujiv Hataman for their unstinting support in promoting investments in the ARMM. The efforts of President Aquino at the beginning of his term in bringing peace to Mindanao was noticed by local businessmen in the ARMM and they responded positively to his peace efforts by re-investing their hard won capital in the region, Mastura said. The RBOI chair said that Governor Hataman was instrumental in convincing local businessmen that this time the peace efforts of the government will not be in vain but will be sustainable. Hataman, for his part, said that he built the confidence of the business sector in the ARMM to continue investing in the region through his own unwavering support to the agenda for peace and development of the Aquino administration and to the reforms in governance that he started in the regional government. Maasahan po ng ating pangulo at ng ating mga constituents sa ARMM na sisikapin naming lahat sa autonomous regional government na makamit yung target na 5% economic growth rate this year sa abot kaya namin. (The president and our constituents can rely on all of us in the autonomous regional government that we will reach the target economic growth rate of 5 percent this year with our best efforts), Hataman said.