Marawi firm inks MoU with Bukidnon farmers

COTABATO CITY – The annual business convention in the Autonomous Region in Muslim Mindanao (ARMM) has envigorated economic activities and is gaining ground as various business sectors are pushing new efforts to increase trade and investments in the region.

The recent 7th ARMM Business Congress paved way for Bukidnon farmers to seal a Memorandum of Understanding (MoU) with a manufacturing company based in Marawi city.

Signed on August 6, this year, the Manobo Tribal Communities Association, Inc. (MATRICA) of Barangay Kalagangan, San Fernando, Bukidnon agreed to produce soya beans and other raw materials for Suming Lee Food Processing Plant.

Suming Lee manufactures food energy drink made of soya beans marketed all over the autonomous region and neigboring areas.

The project with an area of 3,000 hectares of land is estimated to cost P800 million or US$20 million, once finalized. The parties settled to study the joint venture and had arranged future discussions and agreements.

Beforehand, La Frutera Inc., based in Datu Paglas, Maguindanao is the biggest investment so far in the autonomous region.

It was in 1997 when Ultrex and Chiquita Unifrutti, major fruit companies in the world, agreed to a 20-year contract with La Frutera Inc. – the first large-scale banana plantation in the ARMM. Chiquita Unifrutti bought La Frutera’s bananas, market them under the Chiquita and Unifrutti brands, and then export them abroad.

La Frutera has continue to provide jobs to Muslim and Christian residents, not only in Datu Paglas, but also in municipalities of nearby Cotabato and Sultan Kudarat provinces. It prides itself to have links in Japan, Korea, and China as well as some countries in the Middle East and Europe.

Moreover, ARMM officials are recently stepping up its efforts to make the region the country’s Halal hub by striving Halal Fraud Bill to become a law. The measure will control devious businesses and practices regarding Halal foods as well as protect consumers from products that pose danger to health and safety.

Participants of the two-day congress held in Marawi City, Lanao del Sur have expressed confidence on ARMM's ability to make a major economic turnaround, especially with its participation in the Brunei Darussalam-Indonesia-Malaysia-the Philippines East ASEAN Growth Area (BIMP-EAGA). (BPI-ARMM)