Pacified Mindanao new investors’ darling

Reading Time: 2 minutes

FreedomThe peace framework agreement signed between Philippine President Benigno Aquino III and the break away Moro Islamic Liberation Front (MILF) has been successful at luring more businesses to Mindanao, officials at the Mindanao Development Forum (MDF) in Davao said on February 1.

Mindanao has been performing increasingly well over the past two years, Lualhati Antonino, chair of the Mindanao Development Authority, said at the first-ever MDF, pointing to a recent commitment by Malaysian investors to pour $575 million into the agriculture and industry sectors of the island.

“Mindanao’s performance came as a result of improved peace conditions, improved investment climate and improved macro-economic performance,” she told a room full of 300 representatives from governmental development boards, businesses and media at the two-day event.

The peace agreement, signed in October 15, 2012, has paved the way for the creation of an ethnic Bangsamoro semi-autonomous state that would replace the current region, labeled the Autonomous Region in Muslim Mindanao (ARMM), by 2016.

Antonino also pointed to a marked improvement in Mindanao’s poverty level, but admitted that the Zamboanga del Norte, the poorest region the country, and ARMM, home to the lowest graduation rate, still face serious problems.

Additionally, the peace framework agreement did not address certain splinter factions of the disenfranchised Muslim Bangsamoro group, including Abu Sayyaf, a radical Islamist separatist group that pledges loyalty to Al Qaeda, creating the potential for renewed conflict.

Aquino appearance

President Aquino is slated to attend the two-day Philippine Development Forum (PDF) scheduled for February 4 and 5, also held in Davao at the same venue, the Marco Polo Davao hotel. During his stay, Aquino will hear various presentations on the development of Mindanao, which will touch upon climate-change issues and the progression of the peace framework agreement.

National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said Mindanao’s potential could be hastened if the constraints to its development are addressed.

Among the strongest potentials of Mindanao is its agro-industry, which has been performing well in the past years, Balisacan said, which would require more access to dependable power supplies.

Mindanao investments approved by the Board of Investment (BOI) increased by up to 663 per cent from P11.98 billion in 2010 to P91.43 billion in 2011, Antonino mentioned at the MDF. She said 99 per cent of the equity of these businesses are locally driven.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 2 minutes

The peace framework agreement signed between Philippine President Benigno Aquino III and the break away Moro Islamic Liberation Front (MILF) has been successful at luring more businesses to Mindanao, officials at the Mindanao Development Forum (MDF) in Davao said on February 1.

Reading Time: 2 minutes

FreedomThe peace framework agreement signed between Philippine President Benigno Aquino III and the break away Moro Islamic Liberation Front (MILF) has been successful at luring more businesses to Mindanao, officials at the Mindanao Development Forum (MDF) in Davao said on February 1.

Mindanao has been performing increasingly well over the past two years, Lualhati Antonino, chair of the Mindanao Development Authority, said at the first-ever MDF, pointing to a recent commitment by Malaysian investors to pour $575 million into the agriculture and industry sectors of the island.

“Mindanao’s performance came as a result of improved peace conditions, improved investment climate and improved macro-economic performance,” she told a room full of 300 representatives from governmental development boards, businesses and media at the two-day event.

The peace agreement, signed in October 15, 2012, has paved the way for the creation of an ethnic Bangsamoro semi-autonomous state that would replace the current region, labeled the Autonomous Region in Muslim Mindanao (ARMM), by 2016.

Antonino also pointed to a marked improvement in Mindanao’s poverty level, but admitted that the Zamboanga del Norte, the poorest region the country, and ARMM, home to the lowest graduation rate, still face serious problems.

Additionally, the peace framework agreement did not address certain splinter factions of the disenfranchised Muslim Bangsamoro group, including Abu Sayyaf, a radical Islamist separatist group that pledges loyalty to Al Qaeda, creating the potential for renewed conflict.

Aquino appearance

President Aquino is slated to attend the two-day Philippine Development Forum (PDF) scheduled for February 4 and 5, also held in Davao at the same venue, the Marco Polo Davao hotel. During his stay, Aquino will hear various presentations on the development of Mindanao, which will touch upon climate-change issues and the progression of the peace framework agreement.

National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said Mindanao’s potential could be hastened if the constraints to its development are addressed.

Among the strongest potentials of Mindanao is its agro-industry, which has been performing well in the past years, Balisacan said, which would require more access to dependable power supplies.

Mindanao investments approved by the Board of Investment (BOI) increased by up to 663 per cent from P11.98 billion in 2010 to P91.43 billion in 2011, Antonino mentioned at the MDF. She said 99 per cent of the equity of these businesses are locally driven.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid