The Bangsamoro Board of Investments (BBOI) said Tuesday it secured P4.7 billion in investments as of October 2024, surpassing its annual target by 181 percent.
It said that with the recent approval of four additional investments amounting to P390.7 million, BBOI exceeded its initial projection of P2.6 billion.
These new investments are expected to generate 382 jobs across the BARMM, marking a significant advancement in the region’s economic development, it said.
The four newly-approved investments represent key sectors including agriculture, agribusiness, industrial service facilities and tourism.
These projects include DALG Agro-Industrial Corp. and DALG Oil Palm Corp. in Wao, Lanao del Sur, both focusing on agricultural and agribusiness initiatives; Bihing Taik Corp. in Bongao, Tawi-Tawi, centered on tourism development; and AK Global Connect BPO OPC in Cotabato City, contributing to industrial services.
“Our success in exceeding our target by over 180% highlights BARMM’s potential as a business-friendly region that fosters significant economic growth. This accomplishment reflects the positive outcomes of collaborative efforts across BARMM,” said BBOI chairperson Mohamad Omar Pasigan.
The additional P390.7 million in investments is poised to drive BARMM’s development goals by enhancing agricultural productivity, food security and rural economic growth.
The industrial services and tourism projects will strengthen infrastructure development and showcase BARMM’s unique cultural and natural assets, laying the groundwork for sustained economic progress.
