BRIDGe project to increase business investments in ARMM

  • February 17, 2017

MARAWI CITY, Lanao del Sur, Feb. 17 --- Philippine Business for Social Progress (PBSP) and the Regional Board of Investments (RBOI) -- Autonomous Region of Muslim Mindanao (ARMM) recently signed a Memoramdum of Understanding (MOU) to formalize their partnership through BRIDGe Project called “Brokering Business Investments in the Bangsamoro to Achieve Inclusive Development & Growth” at the Manila Liason Office (MLO) of ARMM in Makati City.

 

The project, funded by the Australian Government’s Department of Foreign Affairs and Trade (DFAT), aims to increase mutual confidence between business firms and local communities for increased business investments in the conflict-affected areas of Mindanao.

 

Atty. Ishak V. Mastura, RBOI-ARMM chairperson and managing head lauded the project which is an important move as the province gears up for economic development amid the continuing peace and order situation.

 

“This is an appropriate project in the nick of time. We are ready to go in the process of realizing the project.  We still have outstanding security issues regarding peace and stability that needs to be resolved up to now. But there has to be some catalyst and these are the things we are trying to do.  There must be a way that business actually benefits the community.  Value chains must be created.  Business investors must have a sense of belongingness as members of the community.  At the same time, you make sure that when you are going into a place, you act as a member of the community and you are here for the people working on the ground,” he said.

 

It is expected that through this project, a three-tiered change shall be more visible among top key players in the region: a more facilitative RBOI-ARMM that is aggressively promoting investments suitable in the Bangsamoro; local communities that are prepared and capable to engage and partner with investors; and more business firms primed to invest in an area known for its distinctive social, cultural and environmental dynamics.

 

“Australia has been a long-standing supporter of the peace process in Mindanao.  Since the 1990s, our aid investment in the region supported business, education, government and economic growth.  Sustainable livelihood is essential to brokering peace and prosperity in Muslim Mindanao.  Through BRIDGe, Australia hopes to support business investments in Bangsamoro areas that will lead to peace, progress and stability,” said Australian Embassy Political Counsellor Richard Rodgers.

 

As project implementor, PBSP’s tasks are to facilitate the creation of a Program Advisory Committee; develop a Technical Assistance Package which shall serve as an information and education module for the promotion of business in ARMM; and set up a Business Sustainability Framework in the Bangsamoro (BSFB) to strengthen RBOI-ARMM’s investment facilitation.

 

“We at PBSP are very excited to manage this project.  This is really symbolic in what we are trying to achieve such as to bridge investments in ARMM to make it more inclusive and make sure goals and development happen, and at the same time get the different stakeholdres in the area to work together.  We hope to capitalize on each other’s strengths and capabilities,” said PBSP Executive Director Reynaldo Antonio D. Laguda. (PBSP/PIA-10)


Other News

DBM creates 887 new positions for BI’s new Port Operations Division
  • March 30, 2017
MANILA, March 30 -- True to his word, Secretary Benjamin E. Diokno of the Department of Budget and Management (DBM) facilitated and approved the request of the Bureau of Immigration (BI) for the creation of a new office with 887 new positions needed in the discharge of the BI’s mandate to monitor and regulate the arrivals and departures of locals and foreigners. The creation of 887 new positions is a big step towards the goal of providing a sufficient personnel complement to support the BI’s operations in the ports.   Previously operating as a mere ad hoc unit in the existing BI...Read more
DSWD provides P2.5M capital assistance to livelihood program beneficiaries
  • March 30, 2017
JOMALIG, QUEZON, March30 -- The Department of Social Welfare and Development (DSWD), through its Sustainable Livelihood Program (SLP), has provided capital assistance worth P2.55 million to a livelihood association in this island municipality for the construction of a community-owned beach resort.   DSWD-Field Office (FO) IV-A facilitated the assistance given to Humalik Beach Resort SLP Association, which is composed of 255 residents from Barangays Apad and Bukal; 181 of whom are beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps), a human development program implemented by ...Read more
Help set for workers affected by Department Order No. 174
  • March 30, 2017
MANILA, March 30 -- Workers who will be affected by the labor department’s order totally banning labor-only contracting and all forms of illegal contractualization practices will be provided the necessary assistance by the government.   Labor Undersecretary Dominador Say said the government has allocated for this year a budget for the provision of temporary assistance for workers who will be displaced as a result of the implementation of Department Order 174.   “We will be ready para tumulong ng at least three months para sa mga maaapektuhan na mga empleyado,” said Say. ...Read more
DOF sheds light on tax reform plan at civil society summit in Bicol
  • March 30, 2017
NAGA CITY, Mar. 23 (PIA) – The Department of Finance (DOF) fleshed out before businessmen and civil society groups details of its proposed bill aimed at bringing down personal income tax rates while increasing levy on consumption.   A DOF team led by Finance Assistant Secretary Maria Teresa Habitan met with more than 100 leaders of business and civil society groups in this city over the weekend at a summit dubbed “Naga Civil Society Summit: Partners for Tax Reform.” The summit was co-organized by the Action for Economic Reforms.   Habitan presented the components of the pro...Read more