BARMM Approves Four Strategic Companies, Unveiling Robust Economic Prospects

[Cotabato City, January 18, 2024] – Today, January 18, 2024, marks a significant milestone for the Bangsamoro region as the Bangsamoro Board of Investments proudly announces the approval of four dynamic companies poised to contribute to the region’s economic growth.

The approved companies represent diverse sectors underscoring the region’s commitment to fostering a robust and diversified economy. Each of these entities has demonstrated a clear vision and dedication to their respective industries, aligning with the broader goals of the Bangsamoro region. The four approved ventures include beach resort, expansion of existing tourism complex, fishing and an Islamic financial institution.

This beach resort located in Tawi-Tawi is set to elevate the tourism sector in the Bangsamoro region, focusing on sustainable and responsible travel practices. With a strategic approach to promoting cultural heritage and natural beauty, the resort is poised to contribute significantly to the local economy.

The expansion of existing tourism complex located in Cotabato City specializes in the expansion of building rentals and aims to meet the growing demand for commercial and residential spaces in the region. Their innovative and modern approach to real estate development is anticipated to spur urban growth and enhance community living.

Pioneering in the aquaculture sector registered at BBOI, the fishing company located at South Ubian, Tawi-Tawi focuses on sustainable fishing practices and the responsible cultivation of aquatic resources. With a commitment to environmental stewardship, the company aims to contribute to food security and economic prosperity in the region.

Lastly, breaking new ground, this financial institution is set to become the first of its kind in the Bangsamoro region specializing in Islamic banking. This initiative is expected to meet the unique financial needs of the region, promoting ethical and Sharia-compliant financial services.

The approval of these four companies underscores the Bangsamoro Board of Investments’ dedication to attracting strategic investments that will drive economic progress, create job opportunities, and enhance the overall quality of life in the region.

“We are excited to welcome these four companies to the Bangsamoro region. Their diverse contributions across tourism, urban development, aquaculture, and financial services align with our vision for a vibrant and sustainable economy,” said Mohamad Omar Pasigan, Chairperson of the Bangsamoro Board of Investments.

The investments totaling PHP 859,283,300.00 and the creation of 642 jobs reflect a positive outlook for the region’s economic future.

“The Bangsamoro Board of Investments remains committed to facilitating further opportunities for growth and development, paving the way for a prosperous Bangsamoro”, Chairperson Pasigan added.