Bangsamoro Board of Investments (BBOI) approves Silong Verandah Mountain Resort (SVMR) worth over P74-million on May 23, 2024 in Cotabato City. (Hamdan Badrudin/BIO)
COTABATO CITY—Bangsamoro Government, continues to propel economic growth in the region with the approval of another tourism-related project worth P74,400,500.
The approval of said project came following the Bangsamoro Board of Investments (BBOI) meeting on May 23, 2024 with the investor, Silong Verandah Mountain Resort (SVMR).
Mesmerized by a stunning sunset view and overlooking city lights, the resort, located at Km. 11, Tenorio, Awang, Datu Odin Sinsuat, Maguindanao del Norte is expected to generate 45 new jobs.
This approval is said to be a significant milestone for the BBOI, pushing total investments secured for the second quarter of 2024 to P3,822,879,582, which exceeds 50 percent of the annual target set at P2.6 billion of investments this year.
“We are thrilled to see the Bangsamoro economy flourish with the continuous influx of investments in the tourism sector,” said BBOI Chairperson Mohamad Pasigan.
“The resort’s construction and operation could create jobs for Tiduray residents, boosting local income and fostering economic development,” he added.
He also said, “The resort’s establishment might lead to improved infrastructure in the area, such as roads and utilities, benefiting the entire community.”
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 further stressed.
Investing to encourage natural tourism in the BARMM region, the SVMR Manager and Proprietor Filipina Musa mentioned that the approval of their investment could help them uplift and grow with the assistance that BBOI can provide, which includes technical assistance, guidance, incentives, and links or networks with other agencies.
“BBOI registration will be of great advantage because of the assistance provided, such as tax exemption. For an investor like me, that is a great help to implement and execute projects more easily, quickly, and continuously,” Musa said.
She added, “Having an agency to guide and support an SME is very important for our success and that of our community under BARMM, which will attract even more investors.”
Thursday’s meeting was attended by members of the board, including BBOI Board of Governor Datu Habib Ambolodto; Ex-Officio Governor representatives from the Ministry of Trade, Investments, and Tourism – Peter Paul Ayson; from the Ministry of Agriculture, Fisheries, and Agrarian Reform – Chief of Staff Arphia Ebus; and from the Ministry of Finance, Budget, and Management – Deputy Minister Amil Bahar Amilasan, together with the BBOI Board Secretary Farida Biruar. (Kasan Usop, Jr./BIO)
