COTABATO CITY: The Marawi crisis hardly affects investments in the Autononous Region in Muslim Mindanao (ARMM) as shown by the P129-million port related services project recently approved for registration by the Regional Board of Investments (RBOI) here.
The Bangsamoro Terminal Services Inc. (BTSI) based at Polloc Freeport in Parang, Maguindanao invested in the project to provide efficient logistics support to the thriving businesses in the provinces of Maguindanao and Lanao del Sur, as well as in North Cotabato and Sultan Kudarat in Central Mindanao, including Cotabato City.
RBOI chairman and managing head Ishak Mastura said that with the addition of BTSI, the worth of investments registered this 2017 is now at P3.2 billion.
“This signifies an uninterrupted growth of investments in the region despite the Marawi crisis. The company’s reliable services of delivering the goods to customers on time and in right condition have strengthened local businesses. Cargo handling is very critical in the logistics and supply chain, problems in the cargo movement will cause delays and will cost a lot of money to enterprises,” Mastura pointed out.
The cargo handling company was originally owned by PTC Mindanao Port Services Inc., (MPSI) in 1979 which at that time operated at Polloc Port and expanded operations in Zamboanga City. PTC-MPSI rendered arrastre, stevedoring, other port related services and eventually entered into trucking business.
Gov. Mujiv Hataman welcomed the new investment, saying “the project will effectively impact the flow of goods and services. This will make the businesses strong within towns and cities in ARMM and Central Mindanao bringing more jobs into these areas.”
Firms that register their investment with RBOI are entitled to fiscal and non-fiscal incentives, such as income tax holiday, duty free importation of capital equipment including genetic stock material, exemption from wharfage dues, use of custom-bonded warehouse and streamlined custom procedures and issuance of investor visa for foreign nationals, among others.