Business No Longer Bombs in Bangsamoro Philippine President Benigno Aquino may well be the president who would end the 40 year negotiations and strife in the Southern Philippines that has displaced millions. In an address in Iloilo City, he says talk in a newer Bangsamoro government will no longer be about conflict but will be about developments. Sana ho, baka as early as five years from now, ‘pag napunta tayo sa Autonomous Region of Muslim Mindanao (ARMM), sasabihin sa atin ng mga tao doon, sa bagay ako po’y retired na [sa panahon na iyon], pero sasabihin sa atin eh “Grabe naman itong asensong ito–matrapik, mapolusyon, ang kriminal dito white collar na!” Pero mas maganda na ho siguro iyon kaysa ‘yong puro barilan, kidnapan [kidnap], pambobomba. World Islamic Economic Forum Young Fellows partner Director Aleem Guiapal of the National Commission on Muslim Filipinos (NCMF) looks forward to Muslims being positive contributors to the growing economy of the countrys population of 95 million. This early, the sunshine vibe is positive in the ARMM as a ceasefire has made buzz for investments easier to realize . Women and men champions are putting forward a brighter picture of the region. According to lawyer and RBOI Chairperson Ishak Mastura, the region registered P1.463 Billion in 2013 and P2.523 Billion in the first semester of 2014. The bulk of new investment is in mining & power. Two nickel-mining projects in Tawi-Tawi combined reached P1.2 Billion. 3 bio-mass power plant investments in Maguindanao reached P1.733 Billion . Banana plantation invested P300 million and housing in Parang brought P300 million . Investment in energy is open with HYUNDAI presenting positive prospects during the International ARMM Business Conference in Bongao, Tawi Tawi held on June 16-17 . Investors could consider the following factors: The demand is so high at 50 – 90%. The availability / abundance of natural resources related to power generation. The demand from mining industry and other business opportunities. The Tax Holidays of ARMM Government on the entry of Power equipments / fuel needed. The assured protection from ARMM Government . on the investors and their investments. ARMM is one of the top 3 corn producing areas with the country’s foremost corn starch producer, Lamsan Corporation located there. Since 1971 Lamsan has been continuously expanding and recently it imported 25,000 tons from Thailand as corn production cannot keep pace with its requirements. ARMM is in the top 4 in Cavendish Banana export with multinational Unifrutti/Chiquita companies leading the way. ARMM is the top producer of cassava with production areas in Lanao del Sur under Matling Corporation, a cassava starch producing company that has been operating there since 1928 even before Philippine independence. ARMM is the country’s top seaweed producer with up to 70% of raw seaweeds coming from the island provinces of ARMM. Incentives in doing business in the region include: Income tax holiday Additional deduction for labor expense Tax and duty exemption on imported capital equipment Tax credit on domestic capital equipment Exemption from contractor tax Simplification of custom procedures Unrestricted use of consigned equipment Employment of foreign national Exemption of breeding stock and genetic material Tax credit on domestic breeding stock and genetic materials Tax credit for taxes and duties on raw materials Access to bonded manufacturing/trading warehouse systems Exemption from taxes and duries on imported spare parts Exemption from wharfage dues and export tax, duty, impost and fees
Posted on: Sun, 29 Jun 2014 06:34:24 +0000
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