Governance Commission for GOCCs supports BARMM’s proposed GOCC

THE GOVERNANCE Commission for Government-Owned or Controlled Corporations (GCG) has pledged its backing for the proposed first government-owned and controlled corporation (GOCC) in the Bangsamoro region.

The support was voiced during a dialogue held in Manila recently, where representatives from various national government bodies, non-government organizations, and the Parliament's Rules Committee met to discuss the establishment of the Bangsamoro Development Corporation (BDC).
 
Atty. Aurelle Dominic Narag, representing the legal division of the Office of the General Counsel of the GCG, expressed the agency's support for the region's initiative to institute a regulatory system that will ensure consumer protection and fair treatment for involved entities.
 
GCG General Counsel Director Atty. Michael Pabalinas told the Parliament that they will provide consultancy services, including potential guidelines for the BDC, such as corporate standards, board composition, and organizational structure in alignment with national laws.
 
Parliament Bill No. 34, filed by the Government of the Day (GOTD), seeks to establish the Charter of the Bangsamoro Development Corporation, aiming to strengthen agricultural, commercial, and industrial development, while also promoting investment, creating job opportunities, and implementing strategies to reduce poverty.
 
In the bill's explanatory note, BARMM Chief Minister Ahod Ebrahim emphasized the need to address economic and social challenges in the region. He highlighted the importance of employment and investment opportunities in driving progress and improving the lives of the Bangsamoro people.
 
He said that the best way to attract private capital while ensuring fair treatment for all sectors involved is to create a development corporation.
 
The establishment of the BDC as a GOCC, Ebrahim said, is seen as a strategic move to stimulate economic growth and revenue generation, making the Bangsamoro more self-reliant.
 
Floor Leader and COR Chair Atty. Sha Elijah Dumama-Alba said that this will be the BARMM's first experience exercising the authority to create GOCCs, a power granted under the Bangsamoro Organic Law. She said that the committee hopes to explore innovative policies, strategies, partnerships, and initiatives to make the BDC a catalyst for sustainable development.
 
Representing the GOTD, Science and Technology Minister Engr. Aida Silongan underscored the potential of the BDC to harness the region's abundant natural resources for growth and development.
 
The Rules Committee, responsible for reviewing PB No. 34, will schedule another similar activity in July to gather opinions and recommendations from local stakeholders. (LTAIS- Public Information, Publication, and Media Relations Division)