25.5 C
Cagayan de Oro
Thursday, June 13, 2024

BARMM surpasses 2023 targets with approval of two new investments

COTABATO CITY—Bangsamoro Board of Investments (BBOI) accomplished another milestone by exceeding its investment pledge target of Php2.5 billion for Fiscal Year 2023.

This milestone was realized through the approval of two additional investments during the 4th Board Meeting held on Wednesday, May 31, at the BBOI Office in this city.

These newly approved investments, amounting to a total capital of Php962,817,978.88, are expected to generate employment opportunities for 1,263 workers.

BBOI Chairperson Mohammad Pasigan stated, “We are proud to report that BBOI has approved a total of 11 projects from January to May 2023, which brought a total of P2.7 billion worth of investments, a 108 percent increase compared to the same period last year.”

Pasigan further added, “At the rate we are going now, BBOI has achieved this year the level of annual investments of Php2.5 billion approved in 2021 which means that the region’s high-performance investments are back after the pandemic that challenged the country’s economy, even surpassing the 2021 target.”

Pasigan further emphasized that the economic and political climates are experiencing notable improvements under the administration of Chief Minister Ahod Ebrahim.

He said there is an optimistic outlook for maintaining a strong performance as they make preparations for the anticipated upturn in the economy.

The Rockfort Hotels OPC in Rosary Heights 10, Cotabato City, focusing on hotel accommodations, and LPT Company in Kapatagan, Lanao Del Sur engaged in quarrying were among the approved projects. (Kasan Usop, Jr./BIO)


- Advertisement -spot_img

Related Articles


Please enter your comment!
Please enter your name here

Stay Connected

- Advertisement -spot_img

Latest Articles

- Advertisement -spot_img