Sat, 15 Aug 2020

RBOI-BARMM registers P4.1 billion investments in 2019

Philippine Information Agency
10 Dec 2019, 22:38 GMT+10

COTABATO CITY, Dec. 10 (PIA) -- The Regional Board of Investments of the Bangsamoro Autonomous Region in Muslim Mindanao (RBOI-BARMM) has registered a total of P4.1 billion worth of investments and recorded 2,724 number of employment in 2019.

The data was revealed by the RBOI-BARMM on December 4 during the 2019 RBOI's Year-end Assessment/Reporting and Workshop on Investment Promotion for the BARMM.

Based on the report presented by RBOI-BARMM Senior Investments Specialist Shamera Abobakar, the recorded increase in investments this year exceeded by 180 percent of its target of generating P2.3 billion worth of investment projects.

Abobakar emphasized that there has been 217 percent increase in investments and 200 percent increase in employment from 2018 to 2019.

The approved and registered companies which invested in BARMM are JMI Sand and Gravel Truck Services with P1.4 billion, Lamitan Agri Business Corporation (LABCO) with P1.8 billion, Maguindanao Corn Development (MCD) DSA-1 Corporation with P515 million, Wao Development Corporation with P306 million, and Hong Kong Feng Sheng Heritage Philippine Incorporated (HKFSH) with P100 million worth of investments.

Abobakar said, that with the ratification of the Bangsamoro Organic Law (BOL) and the establishment of the BARMM, more investments have seen in the region.

"Fortunately, after the Bangsamoro Organic Law (BOL) was ratified and the establishment of BARMM, the investments in the region has increased," she stated.

Abobakar also added that the RBOI-BARMM has been conducting different activities in promoting investments in the region through the BARMM Wide Investment Priorities Plan (IPP), Business Sustainability Framework in the Bangsamoro (BSFB), instilling confidence with local and international networks and potential investors, information channels/media mileage, Philippine Investment Promotion Plan (IPP) Team-Technical Working Group, and Investment Facilitation/On-Site Visitation.

Meanwhile, Atty. Ishak Mastura, RBOI-BARMM chairman, during his opening speech said, "The investment promotion is a whole government's affair, it is not just the agency of the RBOI, but all the agencies of the BARMM all the way up to the chief minister."

He also added that BARMM has shown the benefits of peace in terms of more willing investors who want to invest in the region. (PIA Cotabato City)

More Guatemala News

Access More

Sign up for Guatemala News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!