A BUSINESS chamber official shared about a joint venture between Malaysian and Philippine companies for a shipbuilding investment in Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
During the Kapehan sa Dabaw at SM City Davao last Monday, Antonio Peralta, chair of the European Chamber of Commerce in the Philippines-Southern Mindanao, said the local company is publicly listed and Manila-based but with offices in Davao.
The joint venture will create a shipbuilding and repair industry in Bangsamoro.
“I welcome these small developments as they come,” he added.
Arturo Milan, vice president of the Philippine Chamber of Commerce and Industry-Mindanao, also mentioned that presently, the country is purchasing ships such as navy ships, from Indonesia, which has a shipbuilding industry.
The Philippines also has its shipyards and shipbuilding companies, with the biggest being Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) based in Subic Bay. Cebu has two such companies—Tsuneishi Heavy Industries and Austal Philippines.
In Mindanao, General Santos City has several shipbuilding and repair companies, such as SAFI Shipyard and GenSan Shipyard and Marine Works.
On July 25, former President Rodrigo Roa Duterte’s Proclamation No. 55 “Declaring a State of National Emergency on Account of Lawless Violence in Mindanao” was lifted by President Ferdinand Marcos Jr. through Proclamation No. 298.
Proclamation No. 55 was signed on September 4, 2016, in light of the threats of further terror attacks and other similar acts of violence by lawless elements.
The business sector has been calling for the lifting of Proclamation No. 55 due to the negative travel advisories issued by foreign embassies and discouraging investors and tourists as a result.
Milan said that the impact of the said proclamation can be seen in Mindanao’s Gross Regional Domestic Product (GRDP) of 7.2% which fell short of the national GDP average of 7.6% in 2022.
In a statement, Peralta said, “This is a positive step in restoring confidence in Mindanao as a viable trade and investment destination for prospective local and foreign investors. This will allow more travel by foreign senior management of companies as they can be covered by their insurance programs. Previously, travel to Mindanao was not covered by insurance given the declaration of Proclamation 55.”
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