Bangsamoro investment board OK’s agribusiness, tourism ventures

THE BANGSAMORO investment board has approved two new ventures in the region, one on halal egg production and a 200-seat seafood restaurant, with a combined capital outlay of about P130 million.

Trade, Investments, and Tourism Minister Abuamri A. Taddik, an ex-officio member of the Bangsamoro Board of Investments (BBOI), said both projects are in line with the region’s goal of strengthening the halal industry.

“BARMM (Bangsamoro Autonomous Region in Muslim Mindanao) is now in the process of developing and promoting halal industries as a mode of achieving equity and justice among our farmers and produces, and increasing employment opportunities for the domestic labor force,” Mr. Taddik said in a statement from the regional government.

The agribusiness project is under M&R Layer Poultry Farm, a producer of halal eggs located in Sultan Mastura, Maguindanao.

Its project cost is P107.35 million and is expected to generate 92 jobs.

The Timako Bay Seafood Resto, located in the regional capital Cotabato City, has an investment cost of P22.5 million.

The restaurant is “aiming for the ambiance of a beach-type halal restaurant and will serve savory kinds of seafood dishes for up to 200 customers,” the regional government said.

BARMM was the top fish producing region in the country in the past two years, based on Philippine Statistics Authority data.

In 2022, it produced 1.319 million metric tons of fish, accounting for 30.41% of the Philippines’ total production.

BBOI Board of Governors Member Datu Habib Ambolodto, who was present during the Feb. 27 meeting when the projects were approved, said they are hopeful that the opening of the new restaurant will signal the start of more food-related investments.

“The coronavirus pandemic had a devastating impact on the restaurant industry and hopefully, these registrations will significantly increase the possibilities of putting up restaurants to boost the economy of the region,” he said.

BBOI Chair Mohammad Omar Pasigan, meanwhile, said the agency is stepping up its promotional campaign to attract more investors.

“BBOI will exert more effort in promoting investments by conducting BARMM–wide Strategic Investment Priorities Plan consultations and will even go out of its way to attract investors through business coaching and investment facilitation,” Mr. Pasigan said.