COTABATO CITY—Three registered companies invested to transform a combat area into Cavendish and Cardava banana plantation at Bugasan Sur in Matanog, Maguindanao.
“The whole fields before were once a war zone and now an economic zone in the region,” Regional Bangsamoro Board of Investments (BBOI) Board Governor Mohammad Pasigan said during their field monitoring visit on Thursday, Aug. 4, 2022.
The 3 companies, which spent a total of Php468,104,721.00 worth of investments, were Usman Banana Farm-Cardava (Php277,664,721.00), Tayan Banana Farm-Cavendish (Php128-million), and Abai Banana Farm-Cavendish (Php62,440,000.00).
Currently, the 3 companies generated a total employment of 519 local farmers in the area. Many of them are former combatants.
“Our office encourages investor-friendly and effective partnerships among registered companies in the region. Hence, visiting them is essential to ensure our continued sharing of knowledge with the companies that may benefit them in the scope of their business,” Pasigan said.
While Regional BBOI is responsible for the development of investments in the BARMM, it also leads the promotions of various industries and investment opportunities, and assisting local and foreign investors to venture and thrive in vast areas of economic pursuits.
“We could help the company with their marketing and promotions, avail of incentives, and provide all the necessary information needed to help grow their business to its maximum potential,” Pasigan stressed.
As the lead agency in promoting various investment opportunities in the region, Regional BBOI is mandated to monitor the status of registered companies, purposely to revisit and review regional investments policies. (Kasan M. Usop, Jr./BIO)