BARMM investment approvals hit P3.1 Billion in Q3

Cotabato City – The Bangsamoro Board of Investments (BBOI) approved P 340.3 – million worth of investment during its board meeting on Wednesday, August 2, 2023. The BBOI approved the registration of Illana Bay Beach Resort in Badak, Datu Odin Sinsuat, Maguindanao del Norte resulting in P 3.1 – billion worth of investments in the 3rd quarter of FY 2023 and a total job generation of 1, 927.

The Illana Bay Beach Resort, a tourism-related facility, is poised to become a premier destination that showcases the natural beauty and cultural heritage of the Bangsamoro Autonomous Region.

 “With a project cost of P 340, 316, 249.00, this venture stands as a testament to the commitment of both private and government sectors to drive progress and prosperity in the region, “said Chairperson Pasigan.

One of the most promising aspects of the Illana Bay Beach Resort project is its potential to generate employment opportunities for the local community. With the creation of 69 jobs, the project will contribute significantly to reducing unemployment rates and uplifting the livelihoods of individuals and families in the area.

“The BBOI recognizes the positive impact that such initiatives have on the socio-economic landscape, enhancing the quality of life for the people of the region,” added the Chairperson.

As the Illana Bay Beach Resort project moves forward, the Bangsamoro Board of Investments remains dedicated to facilitating a conducive environment for investments and partnerships that will drive progress and prosperity in the Bangsamoro Autonomous Region.

“The BBOI congratulates the proponents of the Illana Bay Beach Resort for their vision and commitment. We are confident that this project will not only contribute to the economic growth of the region but also serve as a catalyst for further investments, development, and cooperation,” according to the Board of Governor Datu Habib S. Ambolodto.