DAVAO CITY (MindaNews / 28 Nov) – The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) is expected to sustain its high economic performance for 2019 after generating interests from the various investors, Mindanao Development Authority (MinDA) executive director Janet M. Lopoz said.
During the forum at Wednesdays at Habi at Kape, Lopoz said that MinDA remains upbeat for BARMM after seeing an increased interest from investors to locate in the region, sustaining the promising gross regional domestic product (GRDP) of BARMM over the past two years.
According to the Philippine Statistics Authority, the GRDP of BARMM in 2018 stood by 7.2%, the second strongest in Mindanao next to Davao Region’s 8.6% and fourth strongest among the 17 regions in the country.
Lopoz added the economic performance of this region will have a bearing on the overall growth of Mindanao, comprising the provinces of Caraga, Northern Mindanao, Soccsksargen, Zamboanga Peninsula, and BARMM.
“Recently, we have seen an upsurge in capital investments in new businesses starting to look into locations and have been talking to Bangsamoro government about it,” she said.
Lopoz said the successful and peaceful transition from ARMM to BARMM after the ratification of Republic Act 11054 or the Organic Law for the Bangsamoro Autonomous Region in Muslim Mindanao (OLBARMM) early this year helped boost the confidence of the investors to locate in the Bangsamoro area.
She believed that the BARMM’s economic performance would shore up the overall economic output of Mindanao by the end of 2019.
“The development in the Bangsamoro will really help pull up a lot of the Mindanao figures at the end. We are excited, as we are now preparing for a lot of new projects that are coming out next year,” she said.
She said the changes that are happening in the peace and security condition in the Bangsamoro area will bear fruit soon.
She said under the Mindanao Peace and Development Framework or the Mindanao 2020, more projects related to the development of people, productivity, poverty reduction, and peace would be rolled out next year. (Antonio L. Colina IV / MindaNews)