DAVAO CITY—The once most-troubled spot in the country continues to ring a bell among investors, with the fresh batch of four investors this week helping to exceed the annual investment target in a span of only three quarters.
The Bangsamoro Board of Investments (BBOI) approved Tuesday the four new investments worth P390,763,596, increasing further the total investments as of October to P4.7 billion.
The BBOI said it achieved a historic milestone to surpass the board’s annual target by 181 percent. It projected P2.6- billion investments for the entire year.
The BBOI said the new investments came from DALG Agro-Industrial Corp. and DALG Oil Palm Corp. in Wao, Lanao del Sur, both focusing on agricultural and agribusiness initiatives; Bihing Tahik 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 percent highlights BARMM’s potential as a business-friendly region that creates significant economic growth. This accomplishment reflects the positive outcomes of collaborative efforts across BARMM,” said BBOI Chairman Mohamad Pasigan.
The four investors created 382 new jobs across Bangsamoro region and represented key sectors for the Bangsamoro region’s economic growth, such as agriculture, agribusiness, industrial service facilities, and tourism.
“These investments are essential to the region’s development objectives, marking a major step forward in its economic progress. They will support agricultural productivity, enhance food security, and stimulate rural economies through agribusiness initiatives,” Pasigan said.
The industrial services project and tourism development will help fill infrastructure needs and promote BARMM’s unique natural and cultural assets, contributing to long-term regional growth, he said.
DALG Agro-Industrial Corp. Secretary Gladys Lowry said that “as a new player in the BARMM, we intend to register our company to avail of the various incentives and benefits provided by the BBOI, including
tax exemptions and the promotion of our business in the region.”
“To start our business, we need to explore all possible engagements, especially with government services, to help us avail of any benefits that may lessen our burden in spending too much capital,” said Al-Jubair Kamid, chief executive officer of AK Global Connect.
“BBOI could help us promote our beach resort as a tourism spot not only in the province of Tawi-Tawi but also within and outside the Bangsamoro region, and eventually, it could boost our entire economy,” Judith Micabalo, representative of Bihing Tahik Corp Resort in Bongao, said.