COTABATO CITY – The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has achieved a remarkable feat, exceeding its investment target for 2024 by a significant margin. As of October 2024, the region has attracted a record-breaking P4.7 billion in investments, surpassing its initial goal of P2.6 billion by a staggering 181%.

This unprecedented success, reported by the Bangsamoro Board of Investments (BBOI), underscores BARMM's growing appeal as a business-friendly region and the effectiveness of collaborative efforts between national agencies, local government units, and private stakeholders. 

BBOI Chairperson Mohamad Omar Pasigan attributes the achievement to the region's increasing economic attractiveness and collaborative partnerships. 

"Our success in exceeding our target by over 180% highlights BARMM’s potential as a business-friendly region that fosters economic growth," Pasigan stated.

October alone witnessed the approval of four new investment projects valued at PHP390.7 million, generating 382 new jobs across key sectors. These projects include:

• DALG Agro-Industrial Corp. and DALG Oil Palm Corp. (Lanao del Sur): Focusing on agriculture and agribusiness, contributing to increased food security and rural economic growth.

• Bihing Tahik Corp. (Tawi-Tawi): Boosting tourism development through resort expansion in the region.

• AK Global Connect BPO OPC (Cotabato City): Expanding industrial service facilities and creating employment opportunities.

These investments, Pasigan emphasized, will significantly impact agricultural productivity, enhance food security, and stimulate economic activity in rural areas.

The positive response from investors further validates the BBOI's efforts in creating a conducive investment climate. 

Gladys Lowry of DALG Agro-Industrial Corp. highlighted the attractiveness of the incentives and benefits offered, including tax exemptions. Al-Jubair Kamid, CEO of AK Global Connect, stressed the importance of government support in reducing business costs. 

Meanwhile, Judith Micabalo of Bihing Tahik Corp. expressed plans to further expand operations in BARMM following the successful launch of their Tawi-Tawi resort.

Looking ahead, the BBOI has set an ambitious investment target of P3 billion for 2025. Their year-end planning session focused on refining policies, strengthening partnerships, and solidifying BARMM's position as a leading investment destination. 

Pasigan reiterated the BBOI's commitment to Moral Governance in driving economic opportunities. 

Board of Governor Datu Habib Ambolodto emphasized the crucial role of strong public-private partnerships in achieving sustainable growth and improving the lives of the Bangsamoro people. 

The BBOI's strategic vision aims to attract investments that not only stimulate economic growth but also empower communities and enhance the overall quality of life in the region.