Cotabato city: The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) announced on Thursday the approval of six new investment projects totaling PHP2.6 billion. This development brings the region's total investments to PHP5.1 billion as of April, marking a significant milestone for the second quarter of the year.
According to Philippines News Agency, Mohamad Omar Pasigan, chairman of the Bangsamoro Board of Investments (BBOI), stated that the newly approved investments have already surpassed the PHP5 billion in total approved investments recorded last year. This growth indicates a positive trajectory for the region's economy.
The region has generated 2,583 jobs this year from approved investments, demonstrating progress in transforming investment growth into tangible livelihood outcomes. The BBOI, during its 3rd Regular Board Meeting, reported that the six new investment projects are anticipated to create an additional 1,657 jobs for Bangsamoro residents.
Pasigan highlighted that the steady increase in approved investments reflects the business community's trust in the Bangsamoro government's dedication to transparency, ease of doing business, and investor protection. "We are not just counting investments-we are counting the jobs and livelihood opportunities that reach every family across our provinces," he said.
The newly sanctioned projects include a health and wellness facility and tourism-related establishments in Cotabato City, valued at PHP177 million. Additionally, agriculture and agribusiness ventures, including projects worth PHP167 million and PHP58 million respectively, are set to take place in mainland BARMM. A substantial PHP2.2 billion investment is also planned for an island province.
Prior to these PHP2.6 billion investments, the first quarter saw approvals totaling PHP2.4 billion. Pasigan emphasized that the BBOI continues to advocate for policy reforms aimed at reducing entry barriers, safeguarding investors, and ensuring equitable distribution of investment benefits across all provinces and communities.
