Regional Board of Investments-Armm

16/09/2022

COTABATO CITY—Bangsamoro region has generated a total of Php8.1-Billion worth of investments in its first three (3) years, the Regional Bangsamoro Board of Investments (BBOI) said.

In a press statement released Wednesday, Sept. 14, the Regional BBOI said that for three years since the creation of BARMM, and despite the pandemic, local investors are boosting the economy with the said amount of investments in the region.

READ FULL STORY: https://bangsamoro.gov.ph/news/latest-news/barmm-generates-p8-1-b-investments-in-first-3-years/

15/12/2020

PRESS STATEMENT

Better BARMM Investment Prospects Seen with Cotabato City as its Financial Center

(COTABATO CITY, December 14, 2020). The formal inclusion of Cotabato City in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) this week is seen to boost the regional investment prospects.

Cursory business surveys point out that Cotabato City due to its strategic location is the de facto financial center of Central Mindanao having the most number of banks and bank branches in the area. Cotabato City even has its own Central Bank Regional Office, which many other similar-sized cities cannot boast of.

BARMM is considered the most underbanked region in the country with the government-owned Landbank having the most branches in the region. While Landbank recently opened the first bank in Lamitan City, Basilan, it already operates three (3) branches in Cotabato City.

However, the banking profile of BARMM improves dramatically with Cotabato City’s inclusion in the region. Cotabato City will have the most number of banks and bank branches in the region with more than a third of all the banks in the region.

These factors make Cotabato City the natural financial center of BARMM. In fact, even before its formal inclusion in BARMM this week, Cotabato City was already serving in that role considering that it is the provisional capital of BARMM with the Bangsamoro Government Complex located in the city.

With the BARMM government having an annual block grant amounting to Php 70 Billion this year and Php 75 Billion next year going thru the banking system in Cotabato City, this volume of money alone cements its role as the financial center of the region.

In addition, government money also goes through the city to service the needs of the military in the region with the 6th Infantry Division, one of the Armed Forces of the Philippines’ biggest divisions in terms of personnel and material resources and budget, located in the vicinity.

International donors and Official Development Assistance from foreign aid agencies including the agencies of the United Nations, which have programs to assist the BARMM, also course their money through the City’s financial ecosystem internationalizing its fund sources further. This is aside from the huge remittances flowing to its banks from Overseas Filipino Workers, of which Central Mindanao is a top recruiter and source for several years now, particularly for those bound for the Middle East.

Lawyer, Ishak Mastura, chairman of the regional Bangsamoro Board of Investments (RBOI), said that their agency is promoting Cotabato City as the Islamic Banking and Finance Hub not only of the region but of the country.

“Under the Investment Priority Plan 2020 recently signed by President Duterte, only investment operations in the BARMM of Islamic banks and financial institutions can enjoy fiscal incentives from RBOI, such as Income Tax Holidays and Reduced Duties and Tariffs for imported capital equipment,” said Mastura.

Currently, Al-Amanah Islamic Investment Bank is the only Islamic bank that operates in the country and has a branch in Cotabato City. This is set to change with last year’s passage of Republic Act No. 11439 or the Philippine Islamic Banking Act.

“Together with RBOI Board of Governor Mohamad Pasigan, we recently talked with the Malaysian Ambassador to the Philippines in order for MAYBANK, which is Malaysian-owned and its biggest bank, to open a branch in Cotabato City and eventually for its Islamic Banking Subsidiary, MAYBANK ISLAMIC, the largest Islamic bank in ASEAN, to follow shortly. We have also requested BARMM Chief Minister Murad Ebrahim to include such investment initiative in his own dialogue with the Ambassador,” added Mastura. (See pictures).

(SOURCE: RBOI)

From left to right Ishak Mastura, RBOI chair, Malaysian Ambassador Norman Muhamad, RBOI Board of Governor Mohamad Pasigan, and Irwan Rizani, Malaysian Counsellor

15/12/2020

PRESS STATEMENT

Duterte Approves Fiscal Incentives for Islamic Banking in BARMM
(Cotabato City, November 23, 2020) President Rodrigo Roa Duterte has just signed the Investment Priorities (IPP) Plan 2020.
The IPP is the government’s blueprint of priority economic activities that qualify for fiscal incentives.
Under Memorandum Order No. 50 signed by Duterte last Thursday, the IPP covers the production or manufacture of medicines, medical equipment and devices, personal protective equipment (PPE), surgical equipment and supplies, among others.
However, the IPP also contains a list of priority investment areas for the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) such as export activities; agriculture, agribusiness, aquaculture, and fishery; basic industries; infrastructure and services; industrial service facilities; engineering industries; logistics; enterprises using the Brunei Darussalam-Indonesia-Malaysia-Philippines East Asean Growth Area (BIMP-EAGA) framework on trade and investments; tourism; health and education services and facilities; Halal industry; investment operations under Republic Act No. 11439 or An Act Providing for the Regulation and Organization of Islamic Banks; and energy.
The IPP in the BARMM and the dispensation of fiscal incentives for investors in the region is handled by the regional Bangsamoro Board of Investments (RBOI).
"We worked hard with BOI Manila to include investment operations of Islamic banks in the BARMM list in the IPP considering that the Islamic Banking Act was just passed and we hope that it will provide for more access to credit for SMEs, particularly in the BARMM, which is the most underbanked region in the country," said lawyer, Ishak Mastura, chairman of the RBOI.
"The BARMM administration under Chief Minister Murad Ebrahim is grateful to President Duterte for signing the IPP 2020 in light of the economic hardships brought about by the Covid 19 pandemic," he added. (END)

(Source: RBOI)

25/11/2020

COTABATO CITY – The Bangsamoro Autonomous Region in Muslim Mindanao's (BARMM) economy is expected to get a boost after President Rodrigo Duterte recently signed the country's Investment Priorities Plan (IPP) 2020, an official said Tuesday.Lawyer Ishak Mastura, chair of BARMM’s...

30/06/2020

The Bangsamoro Government, through its Regional Board of Investments (RBOI-BARMM) has continued to monitor registered firms affected by the Covid-19 crisis in the region.

On June 9 and June 24-25, the RBOI has conducted another series of onsite survey to some firms in Maguindanao and Lanao del Sur, namely:

- Lamsan Power Corporation, a renewable energy unit of Lamsan group of companies in Simuay, Sultan Kudarat Maguindanao;
-Bangsamoro Terminal Services, Inc., a cargo-handling and port related services in Polloc, Parang, Maguindanao;
-Maguindanao Energy Farms, Inc., an industrial crop for renewable energy (Biomass Power Generation) in Sultan Kudarat,Maguindanao;
-Wao Development Corporation, a packing plant facility that produces and exports fresh pineapple located in Wao, Lanao del Sur; and
-Mt. Kalatungan Agriventures Inc., a firm engaged mainly in the production of Cavendish banana situated in the Municipality of Amai Manabilang (formerly Bumbaran), Lanao del Sur.

RBOI-BARMM Chairman Atty. Ishak Mastura said "Covid-19 has drastically reduced the inflow of investments in the countryside so our best hope is that existing local enterprises will continue to flourish and re-invest their capital in the region."

"This is why we conceptualized the Promotion of Investment Sustainability Organization in BARMM or PISO-BARMM economic recovery plan anchored on RBOI registered agricultural processors," he added.

“The agricultural processors in BARMM will provide jobs and investments through their agricultural expansions and 'outgrowership' programs that the regional government will facilitate,” Mastura further said.

Since March - June 2020, RBOI-BARMM has already conducted onsite surveys to at least 12 registered firms in the mainland provinces. The board will also visit the island provinces of Basilan, Sulu, and Tawi-Tawi. (Bureau of Public Information)

30/06/2020

19/06/2020

RBOI -BARMM Monitoring Team with BPI -BARMM
Mabuhay ang Bangsamoro

The Bangsamoro Government's Regional Board of Investments (RBOI-BARMM) has conducted another onsite survey to some registered firms in the region to monitor their status of business and investments amid Covid-19 pandemic.

On Wednesday,June 17, a team, led by RBOI-BARMM Board of Governor Mohammad Pasigan, visited three firms in Maguindanao province, namely:
1. Alip River Development & Export Corporation (ARDNEXCOR), a 600-hectare banana plantation industry in Datu Paglas;
2. EKA SALAM Agriventures Corporation, also a 150-hectare banana plantation in Kauran, Ampatuan; and
3. Agumil Palm Kernel Plant, a 7-hectare oil palm milling factory in Buluan.

Pasigan said BARMM Chief Minister Ahod 'Al Haj Murad' Ebrahim has directed the RBOI to personally visit and check the status of Covid-19 affected firms in the region to see how the Bangsamoro Government can help them.

“Narito kami para kamustahin ang affected firms - ang kanilang productions, mga trabahante, at kung plano rin nila magkaroon ng extension [sa investment], upang makatulong ang BARMM lalo na sa Covid-19 situation natin ngayon,” Pasigan said.

The site monitorings were also conducted in compliance to Executive Order No. 226 otherwise known as Omnibus Investment Code of 1987.

Due to the imposition of community quaratine, the abovementioned firms faced heavy challenges, such as major income loss, insufficient funding, delayed salary of employees, plant diseases, and poor weather condition, among others.

The RBOI-BARMM has initialy conducted onsite surveys to some registered firms in the provinces of Lanao del Sur and Maguindanao on the first week of June. A similar survey will be done to several firms in the island provinces of Basilan, Sulu, and Tawi-Tawi in the coming weeks.

The consolidated results of the survey will be submitted to Chief Minister Ebrahim subject for appropriate actions planning. (Bureau of Public Information)

04/06/2020

https://m.facebook.com/story.php?story_fbid=738347113660416&id=423957668432697

24/02/2020

2/15/2020,Manila.
Round table meeting w/ H.E Malaysian Ambassador Norman Muhamad, H. E. Deputy Ambassador Rizany Irwan, Prof Madya Mohd Salleh Mohamed Exec. Chairman Malay Officers Cooperative Credit and Investment Society (MOCCIS), Legal Advisor (MOCCIS), Mr. Gurdial Singh, and Co.

The fruitful meeting with the would be Investors from Malaysia will be assisted by the RBOI - BARMM Technical Team. BOI-BARMM Board of Governor Pasigan said that their interest is on Islamic Banking. Mabuhay ang Bangsamoro.