COTABATO CITY — The Regional Bangsamoro Board of Investments (BBOI) has approved the Php277, 664,721.00 investment of Usman Banana Farm in Matanog, Maguindanao.
In a statement released today, March 28, Regional BBOI said the Usman Banana Farm, exporter of cardava banana, is expected to foster socio-economic development in the area and targets to improve the residents’ quality of life as it offers 215 local employments.
“This company envisioned itself as a catalyst in achieving peace and order in the surrounding areas and will provide direct employment and ancillary industries,” BBOI said.
“The newest approved project brings BARMM’s total to P474-million for the first quarter of 2022 so far,” the statement further read.
According to Chairman Atty. Ishak Mastura, “RBBOI is aiming to reach P4.5-billion investments pledges this year – an even higher than the target amount from last year’s target”.
“As a registered investment project, Usman farms will receive fiscal incentives from Regional BBOI such as 6-years Income Tax Holiday and reduced duties for importation of capital equipment,”Mastura added. (Kasan M. Usop, Jr./BIO)