23/10/2012 (Business Mirror) - Improved government and much attention given to the Autonomous Region in Muslim Mindanao (ARMM) netted for it P10.736 billion in investments as of its latest monitoring.

The Bureau of Public Information of the ARMM said only one foreign direct investor came in but invested heavily in a banana plantation in Maguindanao province.

The foreign investor, Delinanas Devt. Corp., a subsidiary of the US-based Del Monte Foods Inc., would spend P569 million in initial investment to develop 550 hectares for its for-export cavendish bananas.

The banana plantation, in Datu Abdullah Sangki in Maguindanao, would cater to markets in the Middle East and South Korea with its projected annual production of 2.1 million boxes.  Each box contains 13.5 kilos.

The operation would hire 866 employees and would bring in P80.9 million to the local economy each year in workers’ payroll.

The ARMM generated a lot of investment the previous years. The biggest was the Tabung Haji Janoub Philippines Plantation Inc., with interest in crude palm oil and palm kernel for the Malaysian market.

The Palm-oil plantation is in Tagoloan II in Lanao del Sur, with project cost reaching P5.17 billion. It would hire 5,000 workers.

The ARMM groups the geographically scattered provinces of Maguindanao and Lanao del Sur in central Mindanao and Basilan, Sulu and Tawi-Tawi, the southwestern Mindanao island provinces.

Another company, Agumil Philippines, has invested P360.78 million in crude oil palm refinery and P132.4 million in expanding and modernizing its mill in Buluan, Maguindanao.

Many of the 26 major investments in the region were mostly in agriculture production and processing

These were Mt. Kalatungan Agri-Ventures Inc. in Bumbaran, Lanao del Sur (P906 million); La Frutera Inc. in Buluan, Maguindanao (P526.3 million); Alip River Development  and Export Corp. (P440.04 million in two projects in Datu Paglas town of Maguindanao and both in cavendish bananas); Itil Plantation Inc. in Itil, Balabagan, Lanao del Sur (P173 million); Philippine Trade Center Inc. in Barangay Kalsada, Sultan Kudarat town, also of Maguindanao (P87.88 million), both in cassava starch production;

BJ Coco Mill Inc. in Tanjung, Indanan, Sulu (P147 million) in coco crude oil and copra meat;  Mindanao Coconut Coir Industries Inc. in coco-fiber mat and coco-coir dust (P29.6 million) and garment making (P111.25 million); and Lamsan Inc. in Crossing Simuay, Sultan Kudarat (P194 millon) in cornstarch production.

Big investments were also seen in the non-agriculture sector, such as that of EA Trilink Corp. (EATC), a telecommunications company franchised by the ARMM Regional Legislative Assembly (RLA) “to construct, install, operate networks to provide telecommunications services with fixed and mobile services in the ARMM provinces.” It invested P1.5 billion and would hire 6,000 workers.

The bus firm Weena Express Inc. also invested P120 million in acquiring new buses; Marawi Resort and Hotel Inc. with its P430-million investment to expand its hotel resort in the city; and both the Minrico Lumber Enterprise Co. Inc., which spent P36 million in its veneer production and manufacturing in Barangay Gang, Sultan Kudarat; and El Manuel Depot and Devt., which invested P12 million in veneer plywood and wooden-box production in Barira, Maguindanao.

All the registered major investments and the lone FDI have hired a total of 23,190 workers.

The autonomous region said two foreign companies eyeing plantations had expressed interest in investing. These were the Kalesuari Co., an India investor on palm-oil plantation and mill that targets 26,000 hectares in the Wao and Bumbaran areas in Lanao del Sur; and an Indian investor of the Sumifru Group of Companies, which would develop 1,500 hectares for a banana plantation in Parang, Maguindanao.

The ARMM has also offered areas for possible exploration of mineral deposits but said deposits are yet to be verified. It added that its data were based mainly on past explorations by other companies.

Mineral prospects include gold, silver, copper, coal and limestone, and gas and oil in Liguasan Marsh.