Chinese take interest in BARMM as investment destination

COTABATO CITY, Philippines – Some 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).

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.

The Moro Islamic Liberation Front (MILF), an erstwhile secessionist rebel group, is now running the affairs of the autonomous region after the group forged a political settlement with the government.

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 lawyer and BBC president Ronald Torres-Dimacisil of Li’s announcement made when he visited the BARMM last week.

Chinese investors were keen on putting up an automotive manufacturing company in BARMM, and mobile phone maker Huawei has also taken an interest in the region, Dimacisil said.

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.

BARMM Trade, Investment, and Tourism Director-General Rosslaini Alonto-Sinarimbo attributed the Chinese interest in the region to its much-improved peace and order.

Other than Chinese cities, “we are also working on our sisterhood agreement with Singapore and big economic players like Makati City and Davao City,” she said.

Sinarimbo said the BARMM leadership was determined and has started implementing programs that were aimed at making the region a major investment destination in the eyes of the international community.

“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.

BBC secretary Sandra Siang-Basar said, “We are very optimistic about this very good news that foreign investors find us strong, and are willing to put up their businesses in the region. This is the best time for BARMM and BBC.” – Rappler.com