The fully decentralized structure earlier adopted by BIMP-EAGA provided the flexibility that the growth area needed in its formative and organizational stage. However, as BIMP-EAGA grows in breadth and depth and as the subregion identifies and implements more projects, the need for a more central coordinating unit was increasingly felt. On hindsight and as the experience of BIMP-EAGA with the 1997 financial crisis has shown, the growth momentum in the subregion might have been sustained had there been a unit or mechanism that is centrally coordinating and facilitating the development activities at the subregional level. Recognizing the needed for tighter coordination mechanisms, the four countries agreed to modify the decentralized structure and created the BIMP-EAGA Facilitation Center (MP-FC).
BIMP-FC was created to accelerate regional cooperation in BIMP-EAGA by establishing more structured institutional coordination and project facilitation mechanisms. It is principally a mechanism intended to provide the BIMP-EAGA private sector with support it needs to stimulate growth in the subregion. BIMP-FC is the focal point for the more effective participation in the economic development of BIMP-EAGA by the different stakeholders in the sburegion including but not limited to the participating national and local governments, non-government organizations, donor agencies and other development partners. The terms of reference of BIMP-FC include the following:
- Undertaking, jointly with the BEBC, investment promotion and business networking activities;
- Establishing and maintaining an information database;
- Coordinating the promotion of trade-related events;
- Establishing systems and undertaking monitoring of project implementation activities; and
- Assisting the private sector in resolving issues related to projects and project implementation
The BIMP-FC is public sector-led and will complement the efforts of the BEBC in coordinating trade and investment activities, and in facilitating the implementation and monitoring of priority development projects.
The BIMP-FC also functions as the central secretariat of the SOMMM. It is funded jointly by the four governments of BIMP-EAGA and is hosted in Kota Kinabalu Sabah, Malysia. |