BARMM generates P8.1-B investments in first 3 years

By Rohanie Yahya

COTABATO CITY—Bangsamoro region has generated a total of Php8.1-Billion worth of investments on its first three (3) years, the Regional Bangsamoro Board of Investments (BBOI) said.

In a press statement released Wednesday, Sept. 14, the Regional BBOI said that for three years since the creation of BARMM, and despite the pandemic, local investors are boosting the economy with the said amount of investments in the region.

Of which, Php4.1 billion worth of investment was logged in 2019, Php114 million in 2020, Php2.8 billion in 2021, and Php1.2 billion for the first semester of 2022, which generated jobs for at least 5,704 workers.

Comparing the data, investment approvals of the Regional BBOI were at their peak in the first year and dramatically plummeted in its second year due to the Covid-19 onslaught.

The Bangsamoro region’s largest industry investor is in the banana industry and agriculture with 65.13% or Php4.5 billion worth of investments.

Other industries include sand and gravel with Php1.4 billion worth of investment, community internet service providers (Php14 million), oil extraction and gas exploration (Php998 million), tourism (Php398), halal certification (Php49 million), and hotel and restaurant (Php100 million).

The 3-year investment data from the regional BBOI was part of the terminal report of its outgoing Chairman Atty. Ishak Mastura, who was the longest–serving Bangsamoro board of investment chairman since 2011 and was recently appointed by President Ferdinand Marcos, Jr. as a member of the Bangsamoro Transition Authority (BTA).

“I am just glad that we were able to deliver a good performance for investments in the past 3 years for a good beginning for BARMM despite the challenges brought about by the Covid-19 pandemic,” Mastura said.

“Moving forward, I will endeavor to be a voice and representation for investors and the investing public in my new role as member of the Bangsamoro Parliament,” he said. (With the story from Kasan M. Usop, Jr./BIO)

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