3 new investments worth P475-M in BARMM approved

COTABATO CITY—As the Fiscal Year 2023 started, the Regional Bangsamoro Board of Investments (BBOI) approved the registration of three (3) investment projects in the region amounting to a total of P475,000,000.00 during the Board’s Meeting on Jan. 19, held at BBOI Conference Room in this city.

The three new investments include the Beauty of Life Beach Resort, KS Agricultural Products Trading, and Shahada Medical and Diagnostic Clinic.

With a total projected cost of Php295,150,000.00, the Beauty of Life Beach Resort is a tourism-related facility and attraction and is 100% Filipino-owned and a sole proprietorship company located at Brgy. Kusiong, Datu Odin Sinsuat, Maguindanao.

BBOI Chairman Mohammad Pasigan mentioned that the beach resort is the first of its kind to register in the region and it is an avenue for tourists and BARMM guests to experience the vastness of water and is expected to generate 44 jobs.

“The resort has great facilities and modern amenities. Hopefully, other beach resorts will follow and that will provide a much-needed boost to help sustain many tourism destinations and businesses in the region and will continue to be a key driver of recovery especially since the Covid-19 pandemic hits the tourism economy hard,” Chair Pasigan said.

Meanwhile, KS Agricultural Products Trading is also 100% Filipino-owned and a sole proprietorship company engaged in Halal poultry production and processing, Halal feed production, and marketing located at Brgy. Kamasi, Ampatuan in Maguindanao with a total project cost is Php149,034,556.00 and will generate a total of 150 employments.

MAFAR Minister and Ex-Officio Board Member Mohammad Yacob expressed that the Ministry of Agriculture, Fisheries and Agrarian Reform (MAFAR) is promoting the Halal industry in the region.

“We are very happy that we now have Halal poultry in the region. The BARMM Government will strengthen regulations on halal certification for products in the region, especially where the majority of the population is Muslim,” Yacob said.

Another project, amounting to Php30,760,000.00 and is expected to generate 20 employments, is the Shahada Medical and Diagnostic Clinic. It is said to be the first medical facility to register in the region with a medical and diagnostic center and also a 100% Filipino-owned company located at Sousa Street, Rosary Heights XIII, Cotabato City.

The clinic is an avenue for health professionals with sub-specialties that facilitate the provision of timely, cost-effective, and high-quality diagnostic care for patients in a safe and secure environment.

MTIT Minister and also Ex-Officio Board Member Abuamri Taddik stressed that the private health sector is growing rapidly and this newly-registered clinic in the region is a good implication that investments are pouring in.

“This trend will continue due to the fundamentals that drive demand – population growth, increasing life expectancy, growing disease burdens, and patients’ demands for treatment,” Taddik said, adding, “given the increasing demand for health services, private sectors should consider entering the health care market.”

Accordingly, the Regional BBOI is kicking off 2023 to increase investments in the region.

“We will continue to invite potential investors—local, national and international in the Bangsamoro region with our aim to boost our economy,” newly appointed Board Member Datu Habib Ambolodto said.