RBOI-BARMM inspects firms affected by Covid-19 pandemic, proposes recovery plan
MARAWI CITY, Jun 4 (PIA) — Cognizant on the status of business and investments of various registered firms affected by the coronavirus pandemic in the region, the Bangsamoro Government’s Regional Board of Investments (RBOI-BARMM) conducted an onsite survey to four registered firms in Lanao del Sur and Maguindanao on June 2-3, 2020.
RBOI-BARMM Board of Governor Mohammad Pasigan said this aimed to “identify the impact of Covid-19 pandemic on their businesses and see what assistance the Bangsamoro Government can provide for them.”
On June 2, a team led by Pasigan visited Matling Industrial and Commercial Corporation (MICC) – a cassava and cassava starch producer, and Hong Kong Feng Sheng Heritage Philippines Inc. – an abaca fiber processor, both located in the province of Lanao del Sur.
The following day, June 3, the team visited Mactan Rock TGV Corporation – a water filtration plant, and JMI Sand, Gravel and Trucking Services Corporation in Maguindanao province.
Luzallile Mancilla, Chief Production Officer of MICC, said their sales were badly affected by the implementation of community quarantine. She said even her company’s supply of raw materials were dwindling not just because of the Covid-19 restrictions but also due to the poor weather condition.
“Due to extreme drought, our company-owned hydro powerplant was shut off, which made us alternatively use expensive diesel,” she said.
Meanwhile, Mactan Rock TGV and JMI Sand, Gravel and Trucking Services Corporations said their operations went business as usual as they were not heavily affected by the pandemic.
A similar onsite survey will also be conducted to the RBOI registered firms in the island provinces of Basilan, Sulu, and Tawi-Tawi. The results of the surveys will be consolidated and will then be relayed to BARMM Chief Minister Ahod Al Haj Ebrahim for appropriate actions.
The site monitoring was also conducted in compliance with Executive Order No. 226 otherwise known as the Omnibus Investment Code of 1987.
Meanwhile, RBOI proposed a recovery plan dubbed “Promotion of Investment Sustainability Organization in BARMM” or the PISO-BARMM, which aims to address the economic realities and consequences brought by the Covid-19 pandemic.
It is set to be implemented starting June, after the relaxation of lockdown restrictions, until the end of the year.
RBOI Chairman Atty. Ishak Mastura said “the PISO-BARMM concept is simple. The BARMM is home to several agricultural processors who produce semi-processed or finished products at the industrial scale. The key agricultural processors in the BARMM are mostly registered firms with the RBOI-BARMM since they availed of the fiscal incentives from RBOI-BARMM.”
He said the PISO-BARMM will “try to match farmers and farmer cooperatives with the identified agricultural processors (who are registered investors) in the BARMM so that sources of raw materials productions can be ramped up on a more industrial scale than has been currently practiced.”
Mastura also said the RBOI plans to “give fiscal incentives to the registered investors who will expand their growership under the PISO-BARMM program.” (BPI/PIA ICIC)