COTABATO CITY - Investors continue to pour in capital in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) as the Bangsamoro Board of Investment (BBOI) awarded certificates of registration to five firms, officials said Friday.
In a statement, lawyer Ishak Mastura, the BBOI chairperson, said these made BARMM a potential venue in the country for new investment opportunities amidst the difficulties posed by the pandemic.
Of the five investment companies, three were approved late last year – the Eight Z’s Properties Building Rental, Lanao Del Sur Corn Development Corporation and Prime Certification, and Inspection Asia Pacific, Inc.
The two other companies included are the Pagana Kutawato Corporation and Hanabana Construction and Equipment Corporation approved last month.
These companies have a total of Php1,003,214,201 investments that have provided 1,159 jobs in the region as of January 2022.
“The five companies upon receiving this certificate of registration can fully operate their respective ventures and will automatically enjoy fiscal incentives provided for by the BBOI,” Mastura said.
BARMM Chief Minister Ahod B. Ebrahim congratulated the new investors for considering BARMM in their map of investment destinations.
"Their contributions in investing in BARMM were both inspirational and patriotic for the Bangsamoro region," Ebrahim said in a separate statement.
He guaranteed that the regional government will always support them.
“Your investments in BARMM does not only illustrate our region’s economic potential but its preparedness of transforming people’s lives and wonderful opportunities and limitless possibilities,” Ebrahim said.
Each company is engaged in different areas of ventures such as Eight Z’s Properties Building Rental's old barter and trading tourism, Lanao Del Sur Corn Development Corporation's corn production, and Prime Certification and Inspection Asia Pacific, Inc. for Halal accreditation of products for export, particularly in the Middle East countries.
Moreover, Pagana Kutawato Corporation manages hotel and restaurant tourism, while Hanabana Construction and Equipment Corporation is for potable bulk water distribution in the region.
Mohammad Pasigan, the BBOI board of governor chair, emphasized the importance of encouraging foreign investors through the building of trust and confidence first in the region. (PNA)