COTABATO CITY, Philippines โ Business leaders in the Bangsamoro region welcomed the Asian Development Bankโs (ADB) commitment of a $400-million grant to support economic programs and protect marine resources in Mindanao.
Ronald Hallid Dimacisil Torres, chair of the Bangsamoro Business Council, said they were informed about the grant by Bangsamoro Chief Minister Abdulrauf Macacua and other regional officials who joined President Ferdinand Marcos Jr. at the ASEAN Summit and BIMP-EAGA (Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area) conference in Kuala Lumpur early last week.
โWeโre thankful to the President for allowing BARMM officials to be part of this official engagement. Weโre equally grateful to ADB. This move will surely boost trade and commerce not just in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), but in nearby regions too,โ Torres said on Saturday, May 31.
BARMMโs push for โblue economyโ
Macacua said the ADB support will help strengthen the so-called โblue economyโ in Mindanaoโs coastal areas โ a term referring to the sustainable use of marine resources for economic growth and livelihood, particularly for marginalized communities.
He was joined in Malaysia by his chief of staff, Jamel Macacua; humanitarian program manager Ibrahim Lacua; regional parliament member Kitem Kadatuan Jr.; and Bangsamoro Board of Investments (BBOI) chair Mohammad Pasigan and board member Habib Ambolodto.
Pasigan emphasized that the ADB funding will focus on protecting marine biodiversity and ensuring sustainable fishing in areas around mainland Mindanao and Palawan province โ two of the countryโs most vital marine zones.
Macacua and Pasigan, who serve as BARMMโs point persons for regional and foreign investors, said the grant would help improve the investment climate in coastal towns across the autonomous region.
Building regional ties
Macacua said joining the ASEAN and BIMP-EAGA meetings alongside the President allowed BARMM leaders to engage with political and business representatives from across Southeast Asia.
โWe need to continue building connections with them, guided by the mandate provided to us by the Bangsamoro Organic Law,โ he said.
Malaysia, a member of the Organization of Islamic Cooperation (OIC), played a key role in brokering peace between the Moro Islamic Liberation Front (MILF) and the Philippine government, leading to the signing of the 2012 Framework Agreement and the 2014 Comprehensive Agreement on the Bangsamoro.
These paved the way for the transition from the Autonomous Region in Muslim Mindanao (ARMM) to the current BARMM in 2019 โ a regional government now jointly managed by officials from both the MILF and the Moro National Liberation Front (MNLF), with members from both groups sitting in the 80-member Bangsamoro Parliament.
ADB support boosts investment climate
โWe felt the warm reception from fellow delegates in Kuala Lumpur. That kind of openness is encouraging. We believe it will be easier now to build business linkages with their countries,โ said Macacua.
Pasigan agreed, saying the ADB grant will give coastal investment zones across BARMM the push they need to attract more partnerships and development projects.
Torres said the Bangsamoro Business Council โ with members across BARMMโs five provinces and three cities โ is ready to support and help implement ADB-funded programs.
โWeโre on board. Weโll do our part to ensure these programs benefit our communities,โ he said.
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