An official of the Regional Board of Investments in the Autonomous Region in Muslim Mindanao (RBOI-ARMM) expressed confidence that the rehabilitation of Marawi City has opened the doors for investments.
“Now is the time to start the rehabilitation process. Though we are deeply saddened by what happened to Marawi City which is currently in serious ruins, we have to move forward and turn this crisis into opportunities,” lawyer Ishak Mastura, RBOI-ARMM chair said in a statement.
RBOI-ARMM has been roaming around Mindanao, including Luzon and Visayas, holding roadshows on investment opportunities in a post-Marawi siege business environment.
Mastura said this event is one of the ARMM regional government’s (ARG) preliminary strategies in rebuilding the city by encouraging businessmen to invest in the province of Lanao del Sur and Marawi City.
“One of the priority investment areas identified for the immediate restoration of the city is infrastructure,” Mastura said.
With major infrastructure facilities such as school buildings, hospitals, establishments, roads and bridges damaged beyond repair during the five-month hostilities, Mastura said there is an urgent need for investors to come and help rebuild the city to facilitate the flow and delivery of services and goods to the people of Marawi.
Mastura also said that agriculture, inclusive business, BIMP-EAGA trading, banking and financing are some of the investment opportunities that can be explored by investors. He added that these investment projects are critical to support the urgent need for Marawi to get back on track.
RBOI is facilitating the registration of qualified investors for them to avail of incentives being provided by the government.
Around 200,000 individuals were displaced, brought about by the urban war between the terrorists Maute Group and government troops from May 23 to Oct. 23 this year. It shut down the city’s economy. (PNA)