ARMM beats 2016 investment target

SHARIFF AGUAK, Maguindanao: The Regional Board of Investments in the Autonomous Region in Muslim Mindanao (RBOI-ARMM) managed to hit by 235 percent its investment target of P900 million for 2016, despite uncertainties brought about by the May 9 elections and the rise in armed violence by criminal and insurgent groups in the region and some parts of Mindanao.

Lawyer Ishak Mastura, chairman of RBOI-ARMM, said that in 2016, RBOI registered total investments of P2.11 billion with the approval of the P1.3 billion palm oil plantation development project of Gintong Agri Corp. and the P811 million worth 8MW diesel power plant project of Kaltimex Rural Energy Corp. The two companies are expected to employ 1,034 workers.