MARAWI CITY—Five investors of the Bangsamoro Autonomous Region of Muslim Mindanao (BARMM) received their certificate of registration from the Regional Bangsamoro Board of Investments (BBOI) on Thursday, February 3.
Of the five investment companies, three were approved last year, namely Eight Z’s Properties Building Rental, Lanao Del Sur Corn Development Corporation and Prime Certification, and Inspection Asia Pacific, Inc. The other two companies - Pagana Kutawato Corporation and Hanabana Construction and Equipment Corporation were approved last month.
The said companies generated a total amount of P1,003,214,201.24 investments, catering 1,159 jobs in the region as of the last quarter of 2021 and the first quarter of 2022.
Regional BBOI Chairman Lawyer Ishak Mastura emphasized the achievement of BARMM as a potential venue for new investment opportunities in the country amidst the difficulties and unprecedented challenges posed by the pandemic.
“The five companies upon receiving this certificate of registration can fully be operational with their own respective ventures and will automatically enjoy fiscal incentives provided for by the Regional BBOI,” Mastura said.
BARMM Chief Minister Ahod B. Ebrahim congratulated the new investors saying "their contributions in investing in BARMM were both inspirational and patriotic for the Bangsamoro region."
He also guaranteed that the Government of the Day 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,” he said.
Each company was engaged in different areas of ventures such as Eight Z’s Properties Building Rental for old barter and trading tourism, Lanao Del Sur Corn Development Corporation for 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.
Regional BBOI Board of Governor Mohamad Pasigan underscored the essence of encouraging foreign investors through building trust and confidence first in the region.
“Foreign investors will come and invest depending on the number of investments of local investors in our region but we will not wait for that if the local investors could afford to invest and uplift our own regional economy instead,” Pasigan remarked. (Kasan M. Usop, Jr./BIO)
