NEWS
20December
Chinese businessmen keen on investing in Bangsamoro Region
- Dec 20, 2022
- Alexander Iskandar, Luwaran
- HITS: 971
COTABATO CITY- Chinese investors are keen on putting up an automotive manufacturing company in BARMM, and mobile phone maker Huawei has also taken an interest in the region, says Bangsamoro Business Chamber president Ronald Dimacisil
A Mindanews report on Monday (January 19, 2022), said about 500 Chinese firms have set their sights on the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) which a Chinese official cited as an emerging investment destination in the southern Philippines.
The Bangsamoro Business Chamber (BBC) welcomed with gusto on Saturday, December 17, the announcement made by Chinese Consul-General Li Lin at the start of the Bangsamoro Business Congress (BBC), the Mindanews report said
Li said Chinese traders were keen on investing in the once-troubled Bangsamoro, a region left behind as a result of a decades-old armed conflict due to a secessionist clamor.
Li was accompanied by a group of businessmen from China, including those who already invested in Davao City, when he met with BARMM officials.
He said the Chinese wanted to help the region’s economy to develop.
The Moro Islamic Liberation Front (MILF), an erstwhile secessionist rebel group, is now running the affairs of the autonomous region after the group signed with the government the Comprehensive Agreement on the Bangsamoro (CAB).
'At the end of the day, we will be the ones who will collectively redefine what it means to be Bangsamoro and redirect its future towards progress, development, and most importantly, self-determination'
BARMM government officials said they would work to give foreign investors a tax-holiday scheme to encourage more to come.
“This is a very welcome development,” said Dimacisil of Li’s announcement made when he visited the BARMM last week.
BARMM Trade, Investment, and Tourism Director-General Rosslaini Alonto-Sinarimbo attributed the Chinese interest in the region to its much-improved peace and order.
“We welcome new investors as long as all the existing policies and laws are followed. We are willing to collaborate with them,” Dimacisil said.
He said the BARMM government was prioritizing “the improvement of our facilities and equipment by addressing water and electricity issues, peace and order, transportation, and connectivity,” all vital in transforming the Bangsamoro region into an economic player.
Time in Cotabato
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