BARMM OKs P734-M new investments

Some PHP734 million worth of new investments have been approved by the investment board in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), creating more job prospects for constituents of the region, an official said Monday.

“More job opportunities are shaping up in the BARMM as new investments continue to find their way in the region,” said Ishak Mastura, chair of the BARMM Regional Bangsamoro Board of Investments (BBOI).

Mastura said BBOI approved a total of PHP734,133,782 for three new investments in the region during their June 17 regular board meeting here.

“As we conduct [probably] our last board meeting during the administration of President Rodrigo Duterte, we are glad that we are ending the term on a high note with three additional registered investment projects amounting to more than PHP700 million in total,” he said.

Mastura identified the new investors as the Nama Concrete Philippines Corporation (NAMA), the Mount Kalantungan Agri-Ventures Incorporated (MKAVI), and the Austrian Trade and Investment Group Asia Incorporated (ATIGA).

NAMA invested in pre-mixed cement worth PHP340,800,000 in Sultan Kudarat, Maguindanao; the MKAVI for the production and export of Cavendish banana worth PHP223,533,782 in Amai Manabilang, Lanao Del Sur; and the ATIGA for the production of halal (permissive) coffee products worth PHP169,800,000 in this city.

Also included in the ATIGA investment is an assembly line that offers parts and components servicing and maintenance of coffee vending machines.

"We are hopeful that the incoming administration of President Bongbong Marcos heralds the start of the rejuvenation of the Philippine economy and BARMM in particular, as we emerge from the coronavirus disease 2019 pandemic,” Mastura said.

In a statement, NAMA Manager Jabib Guiaber said their presence has created more local jobs while easing the supply of pre-mix cement in the region for infra-projects.

BBOI Board of Governor Mohammad Pasigan said the new investments would create 636 new local jobs, including 304 for NAMA, 213 for MKAVI, and 119 for ATIGA.

Investments in BARMM rose to more than PHP1.1 billion this year with the three more new investments.

Source: Philippines News Agency

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