Passing BBL to bring investments to Mindanao, says top EU diplomat

MANILA, Philippines - The European Union, through its Ambassador to the Philippines Franz Jessen, has reaffirmed its support for the continuation of the Bangsamoro peace process as it is confident the passage of the Bangsamoro Basic Law (BBL) would be a vital factor in enticing more investments in Mindanao and the rest of the country from European companies.

“What we are trying to do is to explain how this also affects us and how it affects our work with the Philippines. The element of peace is very important for investments,” Jessen said during the launch of the book ‘Journey to Bangsamoro’ Monday at the Makati Shangri-La Hotel in Makati.

“Peace and stability are key factors for investors that influence their decisions to develop Mindanao. The EU’s role in the peace process is to ensure its success because its result would affect us in a global scale,” Jessen said.

Jessen said more countries in the EU have expressed their support for the Bangsamoro peace process and in the region’s economic development. But these efforts to boost the economy in Bangsamoro are being deterred by the uncertain status of the passage of the Bangsamoro Basic Law.

“European investments are not that strong now because they have uncertainties about the peace process,” Jessen noted.

Congress only has until Feb. 5 to pass the BBL into law.

The House of Representatives has set its plenary vote on the measure today, Jan. 27, while the Senate has reserved the same date for the reopening of its Mamasapano investigation.