BBOI exceeds 2023 targets, records a 108% increase in investments amounting to P 2.7-B.

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Cotabato City – The Bangsamoro Board of Investments has overachieved its P2.5 billion investment pledge target for FY 2023.

This was the result of the 4th board meeting convened by the BBOI on May 31, 2023. The agency has approved the registration of two (2) companies, the Rockfort Hotels OPC and LPT Company, with total investments of P 962,817,978.88 and a total job generation of 1,263.

“We are proud to report that BBOI has approved a total of 11 projects from January to May 2023, which are expected to bring in P2.7 billion worth of investments. This is a 108% increase compared to the same period last year,” said BBOI Chairperson Mohamad Pasigan on Wednesday.

“At the rate we are going now, BBOI has achieved this year the level of annual investments approved in 2021. That means that the region’s high-performance investments are back after the pandemic that challenged the country’s economy, even surpassing the 2021 level. Indeed, the economic and political climates are improving under Chief Minister Ahod B. Ebrahim’s administration, and we hope to sustain very good performance as we prepare for the upturn in the economy,” Chairperson Pasigan explained.

These projects will be in Cotabato City and Kapatagan, Lanao del Sur.