BBOI Surpasses Annual Target by 181%, Bringing PHP 4.7 Billion in Investments and Over 380 New Jobs to BARMM

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Cotabato City, Philippines — October 8, 2024 — The Bangsamoro Board of Investments (BBOI) announced today that it has achieved a historic milestone, securing PHP 4.7 billion in investments as of October 2024, surpassing its annual target by 181%. With the recent approval of four additional investments amounting to PHP 390.7 million, BBOI has far exceeded its initial projection of PHP 2.6 billion. These new investments are expected to generate 382 jobs across the BARMM, marking a significant advancement in the region’s economic development.

The four newly approved investments represent key sectors for BARMM’s economic growth, including agriculture, agribusiness, industrial service facilities, and tourism. These projects include DALG Agro-Industrial Corp. and DALG Oil Palm Corp. in Wao, Lanao del Sur, both focusing on agricultural and agribusiness initiatives; Bihing Tahik Corp. in Bongao, Tawi-Tawi, centered on tourism development; and AK Global Connect BPO OPC in Cotabato City, contributing to industrial services. BBOI Chairperson Mohamad Omar Pasigan remarked, “Our success in exceeding our target by over 180% highlights BARMM’s potential as a business-friendly region that fosters significant economic growth. This accomplishment reflects the positive outcomes of collaborative efforts across BARMM.”

The additional PHP 390.7 million in investments is poised to drive BARMM’s development goals by enhancing agricultural productivity, food security, and rural economic growth. Additionally, the industrial services and tourism projects will strengthen infrastructure development and showcase BARMM’s unique cultural and natural assets, laying the groundwork for sustained economic progress.

This achievement aligns with the Moral Governance vision led by BARMM Chief Minister Ahod Balawag Ebrahim, who champions a prosperous, self-sustaining Bangsamoro. BBOI’s commitment to creating a business-friendly environment has attracted substantial local and international investments that drive sustainable growth for the Bangsamoro community. Emphasizing BARMM’s growing economic appeal, BBOI continues to work alongside national agencies, local government units, and private stakeholders to ensure lasting stability and prosperity for the region.