MANILA, Philippines – Sulu Food and Beverage Corporation (SFBC), a food and beverage manufacturing project backed by Destileria Limtuaco, got the green light from the Autonomous Region of Muslim Mindanao’s (ARMM) Regional Board of Investments (RBOI) marking a milestone in the region. 

SFBC was the first outside investment to be approved by the RBOI for the archipelagic province.

RBOI chair and managing head Ishak Mastura said the investment was historic for the Philippines as Sulu had been considered a “no-go zone” for investors due to its history of conflict. Sulu is widely regarded as the stronghold of the terrorist Abu Sayyaf Group.

“With the registration of this investment project in Sulu, all 5 provinces in the ARMM now have registered investments with the RBOI, which is unprecedented and has never happened before,” Mastura said in a statement Friday, December 14.

SFBC’s P8 million food and beverage manufacturing project is backed by

Destileria Limtuaco, one of the oldest food and beverage companies in the country, has invested P8 million with SFBC.

SFBC will manufacture high quality food and beverage products from preparation to distribution. Products are intended for both import and export markets.

SFBC’s food factory plant, buying station, and warehouse will be based in Indanan, Sulu. They plan to process fruits such as mangosteen, coconut, and durian into finished products like jams under the brand “Sulu Tropical Original Fruit Jams.”

Aside from this, SFBC will also engage in “farming and trading of agricultural products on commercial and wholesale basis.”

With the project’s registration with the RBOI, SFBC can avail of incentives like income tax holidays, reduced duties for importation of capital equipment, and exemption from wharfage dues for export, among others. 

ARMM Regional Governor Mujiv Hataman lauded the approved investment, saying it will provide jobs and help develop Sulu’s economy.

Hataman added, “This will also pave the way for the province to exploit the local and global markets at the same time ensuring sustainability of peace and economic growth, especially now that we are about to start the transition from the present ARMM to the Bangsamoro Organic Law next year.” – Rappler.com