BARMM investments in 2022 fall short of target
GENERAL SANTOS CITY—Despite the improved peace and order condition in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), fewer investments poured into the area last year, at only P1.3 billion, down by over half from the P2.8 billion recorded in 2021, data from the Bangsamoro Board of Investments (BBOI) showed.
Mohammad Pasigan, the BBOI chair, said the investments registered last year also fell short by 36 percent of the P2 billion targeted for 2022.
Year-on-year, investments in the Bangsamoro region were down by almost 54 percent, with Pasigan attributing the decline “to different restrictions that were beyond our control.”
Job creation
These restrictions included the requirements set by various BARMM ministries, time constraints and lack of manpower in the BBOI, he said.
For 2022, the investments registered with the BBOI included Pagana Kutawato Corp. (P100 million), Hanabana Construction and Equipment Corp. (P96 million), Usman Banana Farm (P278 million), Nama Concrete Philippines Corp. (P341 million), Mt. Kalatungan Agri-Ventures Inc. (P223 million), Austrian Trade and Investments Group Inc. (P170 million), and Kaltimex Rural Energy Corp. (P76 million).
These generated at least 1,052 jobs, the BBOI said.
Over the past years, investments in the region went into the agriculture sector due to its ideal agroclimatic conditions and fertile lands, Pasigan said.
However, for 2022, other investments in infrastructure, manufacturing and energy pushed through as investors realized their viability in the Bangsamoro region, he added.
BARMM interim Chief Minister Ahod “Al Haj Murad” Ebrahim had encouraged investors, particularly those from rich Islamic countries, to pour in capital to the new Bangsamoro region and help it attain sustainable and inclusive development by creating long-term jobs and raising incomes for the people.
