ZAMBOANGA CITY — The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) continues to propel economic growth in the region following the approval of the Bangsamoro Board of Investments (BBoI) the over P74-million Silong Verandah Mountain Resort (SVMR) project.
BBoI chairperson Mohamad Pasigan revealed on Sunday that the BBoI gave the green light to SVMR to invest in the P74,400,500 tourism-related project on Thursday during a meeting with BBOI officials and key officials of SVMR.
The resort is located in Barangay Tenorio, Awang, Datu Odin Sinsuat, Maguindanao del Norte.
“This approval is a significant milestone for the BBoI after it recorded a total investment for the second quarter of 2024 of P3,822,879,582, which exceeds 50 percent of the annual target set at P2.6 billion of investments this year,” Pasigan said.
“We are thrilled to see the Bangsamoro economy flourish with the continuous influx of investments in the tourism sector,” he added. “The resort’s construction and operation could create 25 new jobs for Tiduray residents, boosting local income and fostering economic development.”
Pasigan also said that the resort’s establishment may lead to “improved infrastructure in the area, such as roads and utilities, benefiting the entire community.”
The BBoI remains committed to attracting further investments that generate employment opportunities and contribute to the overall development of the Bangsamoro region.
Thursday’s meeting was attended by members of the board, including BBOI Board of Governor Datu Habib Ambolodto; Ex-Officio Governor representatives from the Ministry of Trade, Investments, and Tourism — Peter Paul Ayson; from the Ministry of Agriculture, Fisheries, and Agrarian Reform — Chief of Staff Arphia Ebus; and the Ministry of Finance, Budget, and Management — Deputy Minister Amil Bahar Amilasan, together with the BBOI Board Secretary Farida Biruar.