(From left to right) Bangsamoro Board of Investments (BBOI) Chairperson Mohammad Pasigan together with four new investors during the approval of their investment registration on Oct. 8, 2024, in Cotabato City. (Faisal Camsa Jr./BIO)
COTABATO CITY—Continuing to surpass this year’s annual investment target, the Bangsamoro Board of Investments (BBOI) approved on Oct. 8, 2024, four (4) new investments worth P390,763,596.
Creating about 382 new jobs across BARMM, these approved investments represent key sectors for the Bangsamoro region’s economic growth, such as agriculture, agribusiness, industrial service facilities, and tourism.
These include DALG Agro-Industrial Corp. and DALG Oil Palm Corp. in Wao, Lanao del Sur, both focusing on agricultural and agribusiness initiatives; Bihing Tahik Corp. in Bongao, Tawi-Tawi, centered on tourism development; and AK Global Connect BPO OPC in Cotabato City, contributing to industrial services.
These investments are essential to the region’s development objectives, marking a major step forward in its economic progress. They will support agricultural productivity, enhance food security, and stimulate rural economies through agribusiness initiatives.
The industrial services project and tourism development will also address infrastructure needs and promote BARMM’s unique natural and cultural assets, contributing to long-term regional growth.
Overwhelmed by the influx of investment in the region, BBOI Chairperson Mohamad Pasigan said, “Our success in exceeding our target by over 180% highlights BARMM’s potential as a business-friendly region that creates significant economic growth. This accomplishment reflects the positive outcomes of collaborative efforts across BARMM.”
He added, “This achievement aligns with the Moral Governance vision led by BARMM Chief Minister Ahod Balawag Ebrahim, who champions a prosperous, self-sustaining Bangsamoro. BBOI’s commitment to creating a business-friendly environment has allowed us to attract impactful local and international investments that drive sustainable growth for the Bangsamoro community.”
DALG Agro-Industrial Corporation Secretary Gladys Lowry mentioned, “As a new player in the BARMM, we intend to register our company to avail of the various incentives and benefits provided by the BBOI, including tax exemptions and the promotion of our business in the region.”
Al-Jubair Kamid, Chief Executive Officer of AK Global Connect, emphasized, “To start our business, we need to explore all possible engagements, especially with government services, to help us avail of any benefits that may lessen our burden in spending too much capital.”
“BBOI could help us promote our beach resort as a tourism spot not only in the province of Tawi-Tawi but also within and outside the Bangsamoro region, and eventually, it could boost our entire economy,” Judith Micabalo, representative of Bihing Tahik Corp Resort in Bongao, said.
Meanwhile, BBOI has achieved a historic milestone, securing P4.7 billion in investments as of October 2024, an amount that has surpassed the board’s annual target by 181 percent, exceeding the initial projection of P2.6 billion.
Moreover, alongside BARMM’s growing economic appeal, the BBOI continues to work with national agencies, local government units, and private stakeholders to ensure lasting stability and prosperity for the region. (Kasan Usop, Jr./BIO)
