The Makati Business Club (MBC) and the Bangsa Moro Federal Business Council (BMFBC) have inked a pact to strengthen business and entrepreneurial relations that would help boost the economy.

On Thursday, MBC Executive Director Peter Perfecto and BMFBC Chairman Abdulgami Macatoman signed a memorandum of understanding to formalize cooperation between the two organizations.

Asked about the MOU, Perfecto said: "The idea is to try to make sure the MBC is in touch with our colleagues in the Bangsamoro. We’d like to exchange information, resources, and do events together.”

"This is to support progress and inclusive growth in Mindanao,” he added.

Through the MOU, MBC can aid BMFBC in bringing entrepreneurs in Mindanao to Metro Manila for wider market opportunities, while MBC may also bring CEOs based in Manila to Mindanao.

"Some Mindanao entrepreneurs will go here, and we’ll try to get our CEOs to go to Mindanao and do investment and support each other,” Perfecto said.

"As of now we don’t have those business exchanges yet but there is a lot of interest,” he added.

Perfecto said only about 10 percent of the MBC members have businesses and investments in Mindanao but through the MOU, this could increase in the next few years.

"Many of the large conglomerates, they are in the stage of paying back, so they want to play a role in supporting Mindanao through assisting existing entrepreneurs or have their own investments,” he said.