Thursday, February 9, 2023

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BARMM Oks Php475 Million Investments For 2023


BARMM Oks Php475 Million Investments For 2023

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The Bangsamoro Board of Investments in the Bangsamoro Autonomous Region in Muslim Mindanao (BBOI-BARMM) announced Monday it has approved the registration of three projects in the region worth PHP475 million.

BBOI-BARMM Chairperson Mohamad Omar Pasigan identified the new investment projects as the Beauty of Life Beach Resort, KS Agricultural Products Trading and Shahada Medical and Diagnostic Clinic.

The Beauty of Life Beach Resort is a tourism-related facilities and attraction and is a 100 percent Filipino-owned and a sole proprietorship company in Barangay Kusiong, Datu Odin Sinsuat, Maguindanao.

Pasigan said the resort’s total projected cost is PHP295 million and will employ at least 44 residents.

“The beach resort is the first ever of its kind to register in the region. It is an avenue for tourists and BARMM guests to experience the vastness of water. The resort has great facilities and modern amenities,” Pasigan said in a statement.

“Hopefully, other beach resorts will follow and that will provide a much-needed boost to help sustain many tourism destinations and businesses in the region and will continue to be a key driver of recovery especially that the Covid-19 pandemic hits the tourism economy hard,” he added.

The second investor, the KS Agricultural Products Trading, is also a 100 percent Filipino-owned and a sole proprietorship company engaged in halal poultry production and processing.

Located in Barangay Kamasi, Ampatuan, Maguindanao del Sur, the company’s total project cost is about PHP149 million and will provide employment to about 150 local employees.

Pasigan said the proponent is a halal producer of poultry broilers. The company is engaged in poultry dressing plant and is equipped with a halal feed mill for the production of corn, palay, copra and malunggay.

“The Ministry of Agriculture, Fisheries and Agrarian Reform (MAFAR) is promoting the halal industry in the region. And we are very happy that we now have halal poultry in the region,” MAFAR Minister and ex-officio Board Member Mohammad Yacob said.

“The BARMM government will strengthen regulations on halal certification for products in the region, especially where the majority of the population is Muslim,” Yacob added.

Meanwhile, the Shahada Medical and Diagnostic Clinic is the first medical facility to register in the region.

The PHP30 million medical and diagnostic center is a 100 percent Filipino-owned company in Rosary Heights 13, Cotabato City. It is expected to will generate 20 jobs.

Minister Abuamri Taddik of BARMM Ministry of Trade, Investment and Tourism, and BBOI board member, said the private health sector is growing rapidly and the new health facility was an indication that investments are pouring in.

“This trend will continue due to the fundamentals that drive demand – population growth, increasing life expectancy, growing disease burdens and patients’ demands for treatment, Taddik said.

The BBOI said it is confident the number of investments in the pipeline would reach about PHP2 billion this year. (PNA)

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