Glimpse of the growing ARMM economy

The ARMM economy did not just stop from plunging into the abyss but the bottomless pit bottomed out. From a negative .01 gross regional domestic product in 2001 it climbed to 3.6 GRDP in 2013. The target for this year is 5 percent GRDP.

Investments rose from the dead. New investments inflow is now at R5.5 billion from R3.7 billion in 2014 with new investments in agriculture. Investments inflow is projected to hit R7 billion this year.

“All these became possible because of good governance which translates to higher investor confidence,” Hataman said.

Investments in the pipeline include the R1.3 billion 5,000 hectare oil palm plantation by GintongAgri Corp. in DOS, Maguindanao. A R400 million napier biomass fuel production by Maguindanao Energy Farms Inc. in Crossing Simuay, Sultan Kudarat, and a cassava processing by Matling Industrial and Commercial Corp. in Matling, Malabang, Lanao del Sur.

Unemployment rate has gone down. Tourism is another potential for employment opportunities. A mall was established in Cotabato City.

Take a look at the ARMM budget that the government has allocated as good governance builds trust. In 2011, the budget was only R11.788 billion and R11.717 billion in 2012, the allocation has gone up to

R17.290 billion in 2013 to R19.615 billion in 2014 to R24.299 billion in 2015. For 2016, ARMM has a budget of R28.492 billion.

Even if there was peace, but there was no good governance, progress would still be impossible. Good governance breeds peace.

“It is more important to start with good governance,” stressed Hataman.

With the ongoing peace process and especially if the proposed Basic Bangsamoro Law is passed, Hataman expects the ARMM economy to finally take off.

“Before, people in ARMM just know about ARMM, but now they feel ARMM,” said Hataman. (BCM)