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Friday, March 31, 2023

BARMM eyes investment boost for LDS

by Claire R. Gigje

MARAWI CITY, Lanao del Sur (PIA)–The Bangsamoro government firmly intends to open Lanao del Sur province to new advancements, especially in its investments.

Ministry of Trade, Investments and Tourism Bureau of Investments (MTIT-BOI) Director Shamera Abobakar is positive that this province will make its investments prosper, taking into account the potential brought by its rich natural resources and tourism.

She said that the people there still work in agriculture, which shows how important food security is.
As such, Abobakar underlined that if ever there were investments going in, they should be related to food, agriculture, and fisheries to help respond to the inflation concern as well, which was deemed caused by the existing deficiency in food.

In addition to agriculture, she also mentioned the opportunity for the province to profit from tourism because of its stunning scenery and diverse culture, people, and crafts.

Materializing their pictured nurtured investments for Lanao del Sur province, Abobakar shared that their ministry leads the crafting of the Bangsamoro Investments and Incentives Code (BIIC), which is the legal framework for the investment promotion and regulation of the Bangsamoro region in general.

She explained that this aims to promote investment opportunities, facilitate their entry, promote the ease of doing business in the region, and capacitate the LGUs to become investment-ready.

Abobakar cited that this is one of the policies they formulated to improve the investment climate in the BARMM.

“Finafast track din natin ang (we are also fast-tracking the) development of the investment proposals,” she said.

To complete the goal of the BIIC, Abobakar then encouraged the private sector and concerned government agencies to provide them with a list of opportunities to be developed into proposals, consolidated, and made into booklets that can be disseminated to possible investors.

“We can publish this in print or web portals so mas dadami na ang makakaalam kung ano ang investment opportunities ng BARMM sa buong Pilipinas at buong mundo (so that a lot of people in the country and the whole world will know about the investment opportunities in BARMM),” she added. (CRG/PIA-10/Lanao del Sur)


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