Ladies and gentlemen,
First, allow me to congratulate the Bangsa Moro Federal Business Council, Inc. and its affiliates for successfully organizing the first Bangsa Moro Global Economic Summit. I was asked to share my insights thoughts and possibly, and advice concerning the newly established Bangsamoro Autonomous Region in Muslim Mindanao or BARMM, to which I am more than happy to oblige.
The establishment of BARMM is one of the many steps we have to take to address the current social, political, economic, and cultural challenges faced by the Bangsamoro people both within the current ARMM areas and other nearby localities.
The ongoing transition holds promise for the region’s broad-based and sustainable development. Apart from the power and authority granted over certain sectors and activities to create its own sources of revenue and advance the region’s economic development, the increased budgetary support to the BARMM will likely result in more economic activities and socioeconomic interventions beneficial to BARMM.
The national government will provide an annual block grant, which is the automatic share of the Bangsamoro government in the national internal revenue tax collections. This is equivalent to 5 percent of the net national internal revenue tax collection or around PhP70 billion for the fiscal year of 2019 alone. A special development fund amounting to a total PhP50 billion, or PhP5 billion per year for ten years, is allocated for the rebuilding, rehabilitation, and development of conflict-affected communities. Subsidies for development and infrastructure-related expenditure are guaranteed by the national government for the next five years.
To address the challenges that the BARMM is facing, as well as other pressing socioeconomic needs of the region, the BARMM government has crafted its 12-point priority agenda for the transition period of 2020-2022. These can be considered as development opportunities for investments in this critical juncture of the Bangsamoro transition process. Areas for possible longer-term partnerships and cooperation with the private sector may be identified after various development plans are integrated and harmonized.
On top of the BARMM’s agenda is the recovery of areas affected by the conflict in Marawi. The Bangon Marawi Comprehensive Rehabilitation and Recovery Program laid out the government’s strategic interventions for the rehabilitation of Marawi City and municipalities directly affected by the conflict. It includes programs, projects, and activities to be implemented from 2018 to 2022, with total investment requirement amounting to PhP60.51 billion. While most programs will be financed through national government funds, non-government sources have also been identified. Among the biggest non-government projects implemented is the construction of 3,500 permanent housing units by San Miguel Corporation and UN Habitat with an estimated cost of PhP1.93 billion.
We assure you that the government is committed to meeting the overall goal of the Bangon Marawi. Our aim is for Marawi City and surrounding communities to co-exist in peace and become vibrant, productive, and resilient to risks of conflict and other disasters, with culture integrated into the country’s socioeconomic development.
All our eyes are now on the Bangsamoro Autonomous Region in Muslim Mindanao. The region has so much potential to be unlocked and we are excited to see all our combined efforts come to fruition.
Again, thank you to the Bangsa Moro Federal Business Council, Inc. for inviting me over. In store for us are great opportunities for partnership and cooperation that will truly benefit the Bangsamoro and the Filipino people.
May we have a productive day ahead and good day once again.