MARAWI City – The Autonomous Region in Muslim Mindanao’s (Armm) Regional Board of Investments (RBOI) continues to lure more private projects amid concerns on the passage of the Bangsamoro Basic Law (BBL) within the near term.
The RBOI Board of Governors, in a joint meeting with the members of the Management Committee in Davao City on July 20, approved the registration of DS3 Fuel Tanking and Services Inc., a P252-million petroleum project located in Polloc Free Port, Parang, Maguindanao.
The project is the fourth registered by the agency this year after Chan C. Mining Inc., Lamsan Power, and Tawi-Tawian Petroleum Trading.
Lawyer IshakMastura, RBOI chairman, said the DS3 is the first foreign investor to invest in the downstream oil industry in the region highlighting business confidence among foreign investors in the region even as the BBL is still being debated in Congress.
Registered firms in the Armm have recently expressed fear that a diluted BBL may curtail convenience of getting their permits, licenses, approvals, administrative consents and regulatory framework directly from the autonomous regional government. pia
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