BUSINESSES UNITE FOR PEACE – Business leaders and representatives from the government and development institutions convene for the Bangsamoro Business Forum (BBF), organized by Philippine Business for Social Progress (PBSP) in partnership with World Bank. Participants discussed the urgent needs of the people in the region, security concerns, and partnerships for investments in the forum held last May 18 at Dusit Hotel in Makati City.

 

Over 80 participants from the government, the country’s top corporations, development agencies, and the international community gathered recently at the Bangsamoro Business Forum at Dusit Thani Hotel in Makati to discuss solutions and strategies that can help the private sector bring in the much-needed investments to contribute to peace and development in the Bangsamoro region.

In a rare meeting with officials of the Bangsamoro Development Agency and the Bangsamoro Transition Commission, business leaders and heads of development agencies talked about pressing needs, security concerns, jobs generation, investment opportunities, and current initiatives being undertaken by government, development partners and businessmen in the region. The roundtable discussion on investment opportunities for peace and inclusive development in Mindanao was organized by Philippine Business for Social Progress (PBSP) and the World Bank (WB).

Motoo Konishi, WB country director announced that they are currently in talks with the Japan International Cooperation Agency (JICA), the Department of Finance and the Land Bank for the development of a loan facility that will be offered to interested investors in Mindanao, and in the Bangsamoro region.

With this opportunity, John Perrine, chairman of Unifrutti Group Philippines and one of the biggest investors in Mindanao, revealed that more and more businessmen are now ready to invest in the region which for a long time has shied away potential business opportunities due to the peace and order situation especially in the ARMM.

He reported that a number of companies have already expressed interest to invest over $300 million for banana, cacao, coffee, and pineapple plantations. The project which will be funded by WB and JICA, is expected to generate 22,000 jobs in Mindanao. Apart from this, there are also contract-growing programs for cacao, coffee, and abaca that will also provide employment for the people there.

“What we have are hard commitments from a number of companies that will total up to about $340 million worth of investments that would be in bananas, pineapple, coffee, and cacao. That’s the initial project cost and it would generate 22,000 jobs, direct employment. That’s not counting the contract growing programs for cacao, coffee and abaca that will also come on stream. So I think some fears that people have, that no one will go, no one will invest, these are people who are ready to invest today, now, without waiting any longer and as soon as the fund is available,” Perrine said.

For his part, Richard Bolt, country director of the Asian Development Bank (ADB) in the Philippines also revealed that ADB is currently working on a project involving 500 kilometers of road repair and upgrades in western Mindanao and the provision of rural employment. The road repair is expected to begin early next year.

But while there seems to be an ongoing influx of public and private investments in the Bangsamoro region, stalwarts of the Bangsamoro Basic Law (BBL)  underscored the need for its passage to help provide a better and safer business climate for investors as well as usher in genuine and continuous development in the region.

“If you want inclusive growth, you must invest in the Bangsamoro, otherwise it will not grow. The mechanism for special development plans is tied up to the passage of the BBL,” said Senen Bacani, a member of the Government Peace Panel for talks with the MILF.

Mohagher Iqbal, chairman of the Bangsamoro Transition Commission, echoed the call of Bacani, saying that “development is liberation from political domination, economic exclusion and abject poverty…and it requires genuine political autonomy which includes transparency and accountability; greater access to economic opportunities; and social protection for the most vulnerable members of our community, especially those who suffered from the wrath of war.

He added that “without genuine political autonomy and social protection, economic development will not happen.”

Jaime Augusto Zobel de Ayala II, head of the economic cluster of the National Peace Summit said that his group (the economic cluster) perceives the BBL as an economic opportunity and not a problem.

“The peace dividend that the BBL offers can assure private sector investments in the region. The BBL offers an opportunity to test out a more efficient governance structure that can be replicated actually in many other areas of the Philippines.

He also urged the Manila-based business community to extend a more practical dialogue with the Bangsamoro people, and not just its officials.

PBSP chairman Manuel V Pangilinan, meanwhile, called on his colleagues in the business sector to be bearers of peace in Mindanao by contributing to the collective effort of bringing sustainable peace through investments, jobs creation and livelihood development.

“This approach can be a new paradigm we might call “investing for peace.” I know we all share a common vision that while political empowerment is key to sustainable peace, improvement of lives through jobs and livelihood are indispensable elements that will complete the circle of welfare.  Peace and development go hand in glove, one is neither sequential to, nor independent of, the other.  As businessmen, we can also be bearers of peace. It is indeed time for deliverance for Mindanao, from its perils and poverty,” Pangilinan said.

Other speakers in the forum were Dr. Saffrullah M. Dipatuan, chairman of the Bangsamoro Development Agency who gave an overview of the Bangsamoro Development Plan (BDP); Motoo Konishi, country director of the World Bank; and Noriaki Niwa, chief representative of the Japan International Cooperation Agency.

PBSP, led by its executive director Rafael Lopa, is planning to organize more dialogues between the business sector, the government and Bangsamoro officials to jumpstart concrete initiatives that will bring in inclusive growth for the region and its people.

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