ARMM records P20-B investments in 2012-2018

• Source: https://www.bworldonline.com/armm-records-p20-b-investments-in-2012-2018/
• Tuesday, December 25, 2018

(BusinessWorld)

THE REGIONAL Board of Investments (RBOI) of the Autonomous Region in Muslim Mindanao (ARMM) recorded P20.07 billion investments in the period 2012-2018.

ARMM Governor Mujiv S. Hataman, in his state of the region address last Dec. 19, cited that more than 15,000 jobs were created through the entry of various companies.

“In the span of seven years that we’ve been together, RBOI recorded over 20-billion investments that contributed to our region’s economy,” said Mr. Hataman, who was appointed in 2011, won the seat in the succeeding elections, and is stepping down in July next year.

The RBOI, in its report for the regional address, said, “Since 2013 the RBOI has consistently been reaching its investment target set by the Department of Budget and Management (DBM) and in fact, the agency has been exceeding the target set by DBM in achieving more than P1.0 billion registered investments every year since 2013.”

The biggest investment at P1.016 billion came from ChocoInvest Corporation, a local firm that set up a cacao plantation project in Buldon, Maguindanao.

Mr. Hataman also noted that the recorded investments since 2012 do not include the informal sector of micro, small and medium-scale enterprises. “This is aside from the SMEs and informal economy that started due to the region’s peace and security,” he said.

ARMM’s gross regional domestic product (GRDP) growth rate jumped from 0.4% in 2016 to 7.3% in 2017.