COTABATO CITY – Some P1 billion of new investments is expected to pour in the Autonomous Region in Muslim Mindanao this year and among these are in the field of biomass power generation, mining, oil depot and agriculture related projects such as banana, oil palm and buckwheat plantations, according to lawyer Ishak Mastura, Chairman of the Regional Board of Investments.
Mastura expressed optimism that they will meet the 2015 investments target.
He said aside from the continuous effort of the national government to pursue peace and development in Mindanao through the Bangsamoro Basic Law, the region is also an emerging investment destination in the Philippines.
“The region has about 500,000 hectares of available land potential for oil palm, coconut, corn, banana, rubber and other crops. It is also not affected by typhoons and floods which make it conducive for agri-investments,” Mastura said.
However, as a cautionary note, Mastura said investors must get local reputable partners to mitigate investment risks and must see to it that there is social acceptability of their investment projects.
He said investors in the region must do due diligence on land tenure or land ownership if they engage in plantation projects in order to avoid future problems regarding questionable land titles or land tenure.
“Since ARMM is home to a large Muslim population, it is being developed as the Halal Hub becoming the production and market based for Halal products and services not only in the country but also in the ASEAN. Infrastructure, logistics, telecommunications and other utilities are already present to support and sustain the growth of large industries in the region however, continuous improvements is a must,” Mastura said.
In 2014, he said the region generated a total of P3.857 billion investment – 46% of these projects are invested in biomass renewable energy with total value of P1.773 billion; 31% are projects in nickel mining amounting to P1.198 billion, while P740 million or 19% were agri-based projects.
Mastura said the remaining 4% are projects into petroleum product distribution and trading with combined value of P146 million. Out of these investments, 3,422 jobs were created.
He said Lamsan Power Corporation is the biggest investor in 2014 which built a P921 million biomass power plant in Sultan Kudarat town in Maguindanao province and followed by Al Mujahidun Agro Resources and Development, Inc. with P570 million investments and 500 hectare cavendish banana plantation in Ampatuan town also in Maguindanao.
Third major investor is SR Languyan Mining Corp. which is into nickel ore mining and quarrying worth P520 million in Languyan town in Tawi-Tawi province. (Mindanao Examiner)
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