BARMM seeks surpassing of 2023 investment target

Photo | BARMM

PAGADIAN CITY — The Bangsamoro Board of Investments has approved the application of four new investors infusing a combined investment of P1.3 billion in the region to further strengthen the Bangsamoro Autonomous Region in Muslim Mindanao economy.

BARMM-BBOI chairperson Mohamad Pasigan on Friday attributed the continued investment of local and foreign investors to the leadership of BARMM Chief Minister Ahod Ebrahim and his advocacy of “Moral Governance.”

Pasigan said that among the approved investment projects include the Power-Up Ventures — a 100 percent Filipino-owned corporation which is expected to invest P551.050 million in petroleum product distribution at Polloc Port, Parang, Maguindanao del Norte.

Meantime, the Asia Academic Integrated School — with 60 percent Filipino, 20 percent Yemeni and 20 percent Egyptian ownership — is investing P449.730 million in education services and facilities at Purveyor’s Village, Rosary Heights XI, Cotabato City.

Cotabato West Bay Eco-Park, a 100 percent Filipino investor, is dedicating P130.054 million to tourism-related facilities and attractions at Sitio Timako, Kalanganan II, Cotabato City while the Afrazan Shipping Corporation — another 100 percent Filipino-owned company — is investing P78 million in cargo shipping between Tawi-Tawi, Basilan and Maguindanao.

From January to date, BBOI has approved a total of nine new projects, amounting to P1.77 billion in investments, surpassing the previous year’s figures for the same period.

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