The regional Board of Investments-Autonomous Region in Muslim Mindanao (RBOI-ARMM) is organizing a business forum in Davao to promote ARMM as an investment destination, BOI director Raul V. Angeles told reporters.
“The ARMM government and the RBOI-ARMM want to promote the region. It is rich in resources and it is sad that there has not been much investment there. But interest is picking up,” he said.
RBOI-ARMM, with the help of the BOI central office in Manila, is inviting business leaders from Manila and overseas to explore opportunities in ARMM through the business forum.
The BOI, RBOI-ARMM and the Mindanao Development Authority (MinDA) are working together to enhance investment promotion and facilitation in Mindanao.
In May, the agencies said they were partnering to increase local leaders’ capabilities in attracting foreign investors.
The booming halal industry in ARMM, for example, could use some help getting promoted to buyers and investors based in the Middle East, he said.
The Brunei-Darussalam-Indonesia-Malaysia-Philippines East Asean Growth Area, or Bimp-Eaga, region, meanwhile, is the target market of the investment promotion efforts for Mindanao and Palawan.
The BOI, an attached agency of the Department of Trade and Industry, leads government efforts to promote investments in the country. It helps local and foreign investors establish contacts and prosper in areas that can host viable economic activities.
ARMM comprises predominantly Muslim provinces such as Basilan (except Isabela City), Lanao del Sur, Maguindanao, Sulu and Tawi-Tawi. It is the only region in the Philippines that has its own government.