ARMM approves P32 million Cold Storage and Fish Processing investment in Tawi-Taw

DAVAO CITY, March 29 — The Regional Board of Investments (RBOI) in the Autonomous Region in Muslim Mindanao (ARMM) approved today the application for registration of Abing Seafoods and Cold Storage (ASCS). The company based  in Bongao, Tawi-Tawi  will engage in a Php 32 million marine resource business. The ASCS  is into responsible and rational buy and sale of various commercially important fishery resources in Tawi-Tawi for local and international markets. 
 
The company will also be into processing which includes packing and cold storage operation for fresh, ice-chilled and   frozen  fishery products.  Marine export goods will be shipped to clients in China, Singapore and Hongkong who will rely on Abing as their source of   raw materials. Abing’ s fishery export products  will be showcased into various dishes in the homes, restaurants and hotels in these countries.
 
The operations of the company will generate around 111 jobs through its various business activities. Some out of school youths and unemployed mothers will be hired as technicians for the fishery processing. The company’s demand for marine species such as molluses (scallop and abalone), echinoderms (sea cucumber and sea urchin), crustaceans( (crab and lobsters) and fishes (grouper, snapper and tuna) entails the participation of marginalized fisher folks like the  Badjaos as suppliers  which in effect provide income and livelihood for them and their families.
 
Lawyer, Ishak Mastura, Chairman of RBOI said that the approval of the project is a strategic initiative of the ARMM government to strengthen the growth of the fishery industry in Tawi-Tawi and most importantly help small scale fishermen sell their catch at a reasonable price. “This is also a good way to promote “sustainable fished” marine resources and support to local fisher folks for conserving the marine environment.     
 
Around 95% of the 391 thousand population of Tawi-Tawi live in coastal areas, and about 15% of these are municipal fishers.   In Tawi-Tawi, marine fishing is not just an industry but is a way of life. It has been a part of their culture that has been passed from generations to generations, Mastura added.
 
ARMM Governor, Mujiv Hataman said that the project can help address the high poverty incidence of 10.6 percent  in Tawi-Tawi. “By incentivizing fishery related investment projects, we will be able to encourage businessmen and fishing communities to maximize the utilization of our fishery resources in a sustainable manner”.  The fishery industry is an important sector, increasing trade will impact socio economic development in the rural areas and ensure seafood security”, Hataman further said. (Press Release) 

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