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BARMM stirs LDS towns to make own investments, incentives code

MARAWI CITY, Lanao del Sur (PIA)--Intending to boost domestic investments, the Bangsamoro government, through its Ministry of Trade, Investments and Tourism (MTIT), has empowered local government units (LGUs) here to craft their respective codes focusing on policies that highlight the favorable chances for foreign and local investors.

To do this, the MTIT and the provincial government put on an orientation on promoting local investments and a seminar-workshop on making the Local Investments and Incentives Code (LIIC) to help local officials come up with ways to promote investment opportunities and set up their own LIICs.

MTIT Bureau of Investments (BOI) Director Shamera Abobakar expounded that such a code is a legal framework for the LGUs to follow as their legal basis or reference in investment promotion, identifying their investment priority areas and providing local incentives to potential investors.

She stressed that this is important as it would mold the LGUs to be investment friendly and ready so that any investor could easily get into their places, thus paving the way for the overall development of their populace.

"We encourage the local government units to formulate their own LIICs because this will be the basis of their promotion activities. This will facilitate the entry of new businesses. Also, we would like to encourage the existing ones to expand more, and in return, this will create more jobs, income, and wealth for Lanao del Sur," said Abobakar.

The BOI director earlier detailed that in the Bangsamoro region and Lanao del Sur province, only a few localities have their LIICs. 

Even with these existing codes, she stated that they should be updated every two years to ensure that they are aligned with the policies of the Bangsamoro government.

This was likewise affirmed by MTIT Minister Abuamri Taddik, who further emphasized their dedication to aiding the towns, cities, and provinces in their region to amplify their investment promotions.

He, however, reminded them that the LGUs are still the frontliners in this undertaking, as without their effort, particularly that of the local chief executives, their goal would not be realized.

Noting this, Taddik urged the local officials to support this program, especially because it would benefit the entire Bangsamoro citizenry.

"This is just to prove them na serious tayo sa economic recovery program. Ang mahalaga dito ay makikita natin na ang cities at municipalities ay competitive. From time to time, nagdidiscuss tayo with the local government units para nakaconcentrate tayo sa trabaho kasi kung wala sila at ang tulong nila, mahihirapan tayo," he said. 

(This is just to prove to them that we are serious about the economic recovery program. What is important here is that we see that cities and municipalities are competitive. From time to time, we discuss with the local government units how we can concentrate on our work because, without them and their help, we will have a hard time)

MTIT Lanao del Sur Provincial Office Director Mohammad Aquil Mamainte then said that while they are determined to materialize their visions, his office would assist the LGUs with their relevant concerns and agenda.

"Nandito kami para makipagtulungan at magcoach kung ano ang nakalatag sa local code at [Bangsamoro Organic Law] BOL na gagawin natin to promote our investments (We are here to help and coach whatever is provided by our local code and [Bangsamoro Organic Law] BOL for us to do to promote our investments)," he said. (CRG/PIA-10/Lanao del Sur)

Ministry of Trade, Investments and Tourism (MTIT) Lanao del Sur Provincial Office Director Mohammad Aquil Mamainte guarantees the local government units in Lanao del Sur province of their assistance in formulating their own Local Investments and Incentives Code (LIICs). (Claire R. Gigje/PIA-10/Lanao del Sur)

About the Author

Claire Gigje

Information Officer I

Region 10

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