Cotabato City - The Bangsamoro Board of Investments (BBOI) has achieved a historic milestone, securing P4.7 billion in investments as of October 2024, surpassing its annual target by a remarkable 181 percent. The board's success in attracting investment reflects the growing economic appeal of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and its commitment to creating a business-friendly environment.

On October 8, the BBOI approved four new investments worth P390,763,596, creating an estimated 382 new jobs across the region. These projects represent key sectors for the BARMM's economic growth, including agriculture, agribusiness, industrial service facilities, and tourism.

The approved investments include:

• DALG Agro-Industrial Corp. and DALG Oil Palm Corp. (Wao, Lanao del Sur): These companies will focus on agricultural and agribusiness initiatives, supporting agricultural productivity, enhancing food security, and stimulating rural economies.

• Bihing Tahik Corp. (Bongao, Tawi-Tawi): This company will focus on tourism development, promoting the BARMM's unique natural and cultural assets and contributing to long-term regional growth.

• AK Global Connect BPO OPC (Cotabato City): This company will contribute to industrial services, addressing infrastructure needs and further boosting the region's economy.

BBOI Chairperson Mohamad Pasigan expressed his enthusiasm for the board's success, stating that exceeding the target by over 180 percent highlights the BARMM's potential as a business-friendly region. He emphasized that this accomplishment reflects the positive outcomes of collaborative efforts across the BARMM and aligns with the Moral Governance vision led by BARMM Chief Minister Ahod Balawag Ebrahim.

Representatives from the new investment companies expressed their appreciation for the BBOI's support and highlighted the benefits of investing in the BARMM, including tax exemptions and business promotion opportunities. They also emphasized the importance of government support in reducing capital costs and promoting their businesses within and outside the region.