BARMM Approves New Tourism Project, Surpasses Annual Target

Cotabato City, BARMM – May 23, 2024 – The Bangsamoro Board of Investments (BBOI) continues to propel economic growth in the region with the approval of another tourism-related project today.

The Silong Verandah Mountain Resort, located at Km. 11, Tenorio, Awang, Datu Odin Sinsuat, Maguindanao Del Norte, boasts a total project cost of PhP 74,400,500.00 and is expected to generate 45 new jobs.

This approval signifies a significant milestone for the BBOI, pushing the total investments secured for the second quarter of 2024 to PhP 3,822,879,582.00. This exceeds 50% of the annual target set at PhP 2.6 billion of investments for this year.

“We are thrilled to see the Bangsamoro economy flourish with the continuous influx of investments in the tourism sector,” said BBOI Chairperson Pasigan.

“The resort’s construction and operation could create jobs for Tiduray residents, boosting local income and fostering economic development. Additionally, the resort’s establishment might lead to improved infrastructure in the area, such as roads and utilities, benefiting the entire community.” Chairperson Pasigan added.

The BBOI remains committed to attracting further investments that generate employment opportunities and contribute to the overall development of the Bangsamoro Autonomous Region in Muslim Mindanao.

“These achievements highlight the BBOI’s role in propelling the BARMM towards a more vibrant future.” Pasigan ended.