DAVAO CITY – Trade investments in the Muslim autonomous region in southern Philippines have reached over P3 billion in the past 9 months and doubled over last year’s figures and President Benigno Aquino said the government’s landmark peace agreement with the Moro Islamic Liberation Front rebels brought about stability in Mindanao.
Speaking at the Philippine Development Forum on the Bangsamoro in Davao City, Aquino boasted the record breaking and all-time high investments in the region and said it is part of the early gains of overall peace process in Mindanao.
He said the early impact of the government’s efforts has resulted to peace and stability in the region and that 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,” Aquino said.
Lawyer Ishak Mastura, Chairman and Managing Head of the Regional Board of Investments, thanked Aquino for his support in promoting investments in the Muslim autonomous region.
“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,” he said. (Mindanao Examiner, RBOI)
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