BARMM generates P1.3-B investments, 1K jobs in 2022 - TrueID

BARMM generates P1.3-B investments, 1K jobs in 2022

Philippine News AgencyDecember 30, 2022


COTABATO CITY – The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has generated PHP1.3 billion worth of investments and 1,052 jobs for this year, the Bangsamoro Board of Investments (BBOI) said Friday.

The BBOI, however, said in a statement that the figure only comprises 64 percent of their PHP2-B investment target for this year.

“We should not take this plunge in investment as something negative. We should see this as a challenge,” BBOI chairman Mohammad Pasigan said, without elaborating as to why the target was not reached.  

On a positive note, Pasigan said the region has produced 1,052 new jobs for BARMM constituents this year.

In the past, Pasigan noted that agriculture led with the highest investment as against other areas. This year, he said investors also poured in capital in other investment sectors like infrastructure, manufacturing and energy.

This year’s earned regional investments included the Pagana Kutawato Corporation with PHP100 million worth of investments, Hanabana Construction and Equipment Corporation (PHP96 million), Usman Banana Farm (PHP278 million),

Other big investors were Nama Concrete Phils. Corporation (PHP341 million), Mt. Kalatungan Agri-Ventures, Inc. (PHP223 million), Austrian Trade and Investments Group, Inc. (PHP170 million), and the Kaltimex Rural Energy Corporation (PHP76 million).

“Considering the vast potentials of BARMM, the certainties and more stable peace and order situation under the leadership of Chief Minister Ahod Ebrahim, these investments would influence regional investors to encourage national and even global investors to come in,” Pasigan said.

By next year, he assured the BBOI will exert more efforts in promoting investments by conducting regional strategic investment priorities plan consultations to attract investors through business coaching and investment facilitation. (PNA)

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