The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has registered three new investments worth P475 million (USD 8.7 million), the Bangsamoro Board of Investments (BBOI) announced Friday, January 20.
In a statement, Mohammad Pasigan, BBOI chair, said the board approved the registration of Beauty of Life Beach Resort, KS Agricultural Products Trading and Shahada Medical and Diagnostic Clinic, all Filipino-owned ventures.
He expressed optimism more investors will relocate this year to the Bangsamoro region.
The Beauty of Life Beach Resort is investing P295 million (BND7.1 million) for its tourism facility in Barangay Kusiong, Datu Odin Sinsuat in Maguindanao del Norte. It will generate at least 44 jobs.
“The beach resort is the first of its kind to register in the region. The resort offers great facilities and modern amenities. Hopefully, other beach resorts will follow to provide the much needed boost to help sustain the many tourism destinations and businesses in the region,” Pasigan said.
With the easing of movement restrictions and the increased mobility of people, he expected the tourism industry to bounce back after severely hit by the COVID-19 pandemic.
The KS Agricultural Products Trading is engaged in halal poultry production and processing. Located in Barangay Kamasi, Ampatuan in Maguindanao del Sur, the project costs P149 million (BND3.6 million) and will generate 150 employment.
The proponent is a producer of halal broiler chicken. It has a dressing plant and formulates its own feeds, the statement said.
“The Ministry of Agriculture, Fisheries and Agrarian Reform (MAFAR) is promoting the halal industry in the region. We are very happy that we now have a halal poultry in the region,” MAFAR Minister Mohammad Yacob said.
“The BARMM government will strengthen the regulations on halal certification for products in the region,” he added.
The Shahada Medical and Diagnostic Clinic is the first medical facility to register in the region. The medical center is located at Sousa Street, Rosary Heights XIII, Cotabato City. It has a total project cost of P 30.8 million (BND 744,220) and will generate 20 employment.
According to the statement, the clinic “is an avenue for health professionals with sub-specialties that facilitate the provision of timely, cost-effective and high-quality diagnostic care for patients in a safe and secure environment.”
“The private health sector is growing rapidly and this newly-registered clinic in the region is a good 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. Given the increasing demand for health services, the private sector should consider entering the health care market,” Trade, Industry and Tourism Minister Abuamri A. Taddik said.
The BBOI is kicking off 2023 with a number of investments already lined-up for approval, the statement said.
“We will continue to invite potential investors – local national and international – to the Bangsamoro region to boost our economy,” newly-appointed BBOI board member Datu Habib S. Ambolodto added.
Bong S. Sarmiento
Mindanao, Philippines
MINDANEWS
This article is a contribution from MindaNews
