ZAMBOANGA CITY: The Autonomous Region in Muslim Mindanao (ARMM) Board of Investments (BOI) has announced the entry of Abscor Multi-Trading Company to its growing list of investors.
The new multi-trading company is expected to bring more investments in Mindanao and offer a great opportunity for the Philippines to showcase its products abroad, particularly in Southeast Asia.
Lawyer Ishak Mastura, the BOI chairman and managing head, said the entry of the new trading firm only showed the region was regaining investor confidence and enjoying improved economic conditions following reforms in the government, among other factors.
Muctar Muarip, who sits in the BOI board of governors, said Abscor would boost trade by making basic goods available to the consumers.
“We are a trading company active in Brunei, Indonesia and Malaysia and we would like to help small importers or exporters,” Abscor President Abraham Menor told The Manila Times.
Menor said Abscor has set up headquarters in Port Holland in Maluso town in Basilan, one of five ARMM provinces; and has built a satellite office in Zam–boanga City, just several nautical miles south of Basilan.
“Our aim now is to strengthen Abscor and boost the economy, not only in the ARMM, but the whole country as well. We are also seriously looking into the manufacturing sector—among others the processing of seaweeds, which Abscor can export, we will deal in agricultural and marine products, construction and hardware materials, food stuff and groceries and even scrap metals—those would be our main line of business,” he added.