BARMM Approves P2,060,949,702.00 Billion worth of Investments

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Cotabato City—Bangsamoro Board of Investments (BBOI) gave its stamp of approval to a staggering ₱2,060,949,702 billion worth of investments during its latest board meeting convened on Wednesday, April 16, 2024.

The BBOI’s green light illuminated the path for the registration of a diverse array of ventures, showcasing the region’s potential across various sectors. Among the approved investments were two (2) ventures in the domain of tourism, promising to enrich the local landscape with new attractions and hospitality offerings. Additionally, the Board welcomed the registration of two (2) companies dedicated to bolstering infrastructure and logistics, vital components in facilitating seamless connectivity and trade. Furthermore, a notable entry into the fold was one (1) agro-agricultural processing company, highlighting the region’s commitment to harnessing its agricultural potential and adding value to its abundant natural resources.

This collective influx of investments is projected to inject ₱3.7 billion into the local economy in the fiscal year 2024 alone. Beyond monetary gains, the ripple effect of these investments is poised to create tangible opportunities for employment, with an estimated 1,155 jobs set to be generated across these ventures.

The approval of these investments marks a significant milestone for the Bangsamoro region, signaling its emergence as an increasingly attractive destination for both domestic and foreign investors. Notably, the BBOI’s achievement in surpassing more than 42.31% of its annual target for the year 2024 punctuates the growing confidence in the region’s business climate and the effectiveness of its investment promotion efforts.

The wider BARMM continues on its trajectory of economic transformation; such investments serve as pillars of sustainable development, laying the groundwork for a prosperous and resilient future. With each approval, the region takes a step closer to realizing its vision of becoming a beacon of growth and prosperity in the Philippines. Chair Pasigan said.