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COTABATO CITY — The Bangsamoro Government continues to drive economic growth in the region with the approval of another tourism-related project worth Php74,400,500.
Before the approval of the new project Bangsamoro Board of Investments (BBOI) met with the investor on May 23, 2024, Silong Verandah Mountain Resort (SVMR).
Mesmerized by a stunning sunset view and overlooking city lights, the resort, located at Km. 11, Tenorio, Awang, Datu Odin Sinsuat, Maguindanao del Norte, is expected to generate 45 new jobs.
This approval is considered a significant milestone for the BBOI, pushing total investments secured for the second quarter of 2024 to Php3,822,879,582, which exceeds at 50 percent the annual target set at Php2.6 billion of investments this year.
“We are thrilled to see the Bangsamoro economy flourish with the continuous influx of investments in the tourism sector,” said BBOI Chairperson Mohamad Pasigan.
“The resort’s construction and operation could create jobs for Tiduray residents, boosting local income and fostering economic development,” he added.
He also said, “The resort’s establishment might lead to improved infrastructure in the area, such as roads and utilities, benefiting the entire community.”
Pasigan assured that the BBOI remains committed to attracting further investments that generate employment opportunities and contribute to the overall development of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
“These achievements highlight the BBOI’s role in propelling the BARMM towards a more vibrant future,” Pasigan further stressed.
Investing to encourage natural tourism in the BARMM region, the SVMR Manager and Proprietor Filipina Musa mentioned that the approval of their investment could help them uplift and grow with the assistance that BBOI can provide, which includes technical assistance, guidance, incentives, and links or networks with other agencies.
“BBOI registration will be of great advantage because of the assistance provided, such as tax exemption. For an investor like me, that is a great help to implement and execute projects more easily, quickly, and continuously,” Musa said.
She added, “Having an agency to guide and support an SME (small and medium enterprise) is very important for our success and that of our community under BARMM, which will attract even more investors.”
Thursday’s meeting was attended by members of the board, including BBOI Board of Governor Datu Habib Ambolodto; Ex-Officio Governor representatives from the Ministry of Trade, Investments, and Tourism (MTIT)– Peter Paul Ayson; from the Ministry of Agriculture, Fisheries, and Agrarian Reform (MAFAR) – Chief of Staff Arphia Ebus; and from the Ministry of Finance, Budget, and Management (MFBM) – Deputy Minister Amil Bahar Amilasan, together with the BBOI Board Secretary Farida Biruar. (Kasan Usop, Jr./BIO)