COTABATO CITY – The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has reached a significant achievement by attracting investments totaling PHP4.7 billion by October 2024, surpassing its initial goal of PHP2.6 billion by an impressive 181%. This success is attributed to the region’s growing economic allure and effective partnerships with national agencies, local governments, and private sector entities.
Mohamad Omar Pasigan, Chairperson of the Bangsamoro Board of Investments (BBOI), emphasized the region’s potential as a business-friendly area, stating, “Our success in exceeding our target by over 180% showcases BARMM’s potential as a hub for economic growth.”
In October, four new projects valued at PHP390.7 million were approved, generating 382 jobs in key sectors such as agriculture, agribusiness, industrial services, and tourism. These projects include DALG Agro-Industrial Corp. and DALG Oil Palm Corp. in Lanao del Sur, Bihing Tahik Corp. in Tawi-Tawi, and AK Global Connect BPO OPC in Cotabato City. Pasigan noted that these investments would enhance agricultural productivity, food security, and stimulate rural economies.
Investors have praised the BBOI for fostering a conducive environment for business. Gladys Lowry from DALG Agro-Industrial Corp. expressed intentions to register her company to benefit from incentives like tax exemptions. Al-Jubair Kamid, CEO of AK Global Connect, highlighted the importance of government support in reducing operational costs. Judith Micabalo of Bihing Tahik Corp. plans to expand operations in BARMM following the successful launch of a resort in Tawi-Tawi.
Looking ahead to 2025, the BBOI has set a new investment target of PHP3 billion. During a year-end planning session, discussions centered on policy improvements, strengthening partnerships, and positioning BARMM as a top investment destination. Pasigan reiterated the commitment to making BARMM a center of economic opportunities aligned with Moral Governance principles.
Datu Habib Ambolodto, a member of the Board of Governors, stressed the importance of collaboration between public and private sectors to achieve sustainable growth and improve the lives of the Bangsamoro people. The BBOI aims to attract more significant investments that will drive economic growth, empower communities, and enhance the quality of life in the region.