RBOI-ARMM registered P3.867 billion investments in 2014

COTABATO CITY -- The Regional Board of Investments in the Autonomous Region in Muslim Mindanao (RBOI-ARMM)announced today that it has registered an unprecedented Php3.867 billion investments in the Autonomous Region in Muslim Mindanao (ARMM).The announcement was made after the RBOI approved Wednesday, in its board meeting, the nickel-mining project of Pax Libera Mining, Inc. worth P495 million in Languyan, Tawi-Tawi.Lawyer Ishak Mastura, RBOI chair, said in accordance with the investment policy of the regional government, no income tax holiday or fiscal incentives were given by the RBOI to the mining company because it is engaged in an extra-active industry and the regional government wants to avail of the full rents and revenue generating potential of such investments in the extra-active industry.There is no official policy welcoming or encouraging mining investments in ARMM and the mining investors have to get the full consent and social acceptability of the communities they operate in even before they are allowed to operate, Mastura said, a lawyer with Master of Laws in Petroleum Law and Policy from the University of Dundee in Scotland.To date, most of the ARMM investments in ARMM are agriculture-based such as banana plantations and agricultural processors.A close second source of investments is the renewable energy industry, particularly in biomass power generation. Mining investments have been confined practically to one geographic area and specific to one commodity. This is the nickel-mining operations in Languyan, Tawi-Tawi.Next year, the RBOI hopes to approve investments in biomass power generation, an oil depot in Tawi-Tawi, agricultural plantation investments such as banana, oil plan and buckwheat (soba noodles). This latest investment may prove that investments in the ARMM is not a flash in the pan or a freak phenomenon but may have staying power provided relative peace and order prevails in the region with the combined beneficial effects of the peace process and good governance initiatives by the regional government,” Mastura, also managing head of RBOI, said.Mastura also noted that investments have been coming every quarter since last year, especially this year, the four quarters of the year have registered investments, which he hopes will become a trend and even extend next year.He said ARMM Regional Governor and the RBOI would like to ensure that investors have developed confidence in the regional government ahead of the coming of the BAngsamoro government as a result of the government peace process with the Moro Islamic Liberation Front.The envisioned Bangsamoro government, as stated in the Comprehensive AGreement on the Bangsamoro signed early this year, will replace the current ARMM.