Over P200-Million worth investment companies to operate in BARMM capital

 Edited/posted by Becky de Asis/The Redline News/PRESS RELEASE

COTABATO CITY – Bangsamoro Government’s Regional Board of Investments (BBOI) announced on Wednesday, Jan. 5, the approval of two (2) investment companies worth over Php200-million here in the city.

The investment companies, which were considered as an opening salvo in BARMM for this year, include Hanabana Construction and Equipment Corporation—a company based in Cagayan de Oro City for the project on independent bulk water supply, and Pagana Kutawato Corporation for container van type of hotel and restaurant expansions. Both shall be operating in the region’s capital – Cotabato City.

BARMM Coordinator of Hanabana, Engr. Samim Yusoph, explained the nature of the project in areas of BARMM, particularly in Cotabato City to establish the viable source of potable water within the city to utilize its own water resources to supply its residents according to their daily consumption.

"Actually, our company was contracted with Metro Cotabato Water District (MCWD) for the project to build a bulk source of potable water system in the city using our modified water equipment or technology amounting to more than Php100-M," Engr. Yusoph said.

"As agreed in the contract, the MCWD will not pay any single centavos for the use of our water technology or equipment but the volume of water to be pumped out going to the residences in Cotabato City of around 7,000 cubic meters daily will be payable by them monthly once it is operated", Yusoph added.

This pilot project on the water system to be established will initially benefit the areas of Barangay Poblacion 8, 9, Rosary Heights 5, and some areas of Barangay Rosary Heights 3 with a plan to expand in all Barangays 1 to 5 of Tamontaka.

Meanwhile, the Kutawato Pagana Corporation will establish a tourism type of hotel and restaurants using the container van to attract more tourists or visitors in the city.

"Our purpose of expanding our hotels and restaurants in a new innovative design is to cope with the increasing demand of our visitors on accommodations and foods, which Muslims are commonly like to eat in a restaurant," company owner Atty. Anwar Malang said.

Malang was also aiming to promote their halal native foods and delicacies in the city to boost the tourism-related industry.

RBOI Chairman Atty. Ishak Mastura was happy to welcome the new investors and sees it as a good sign for the region for more possible investments to come in this year.

"We are eyeing for an increase in investments in the BARMM like what happened last year, in which we generated investments more than our target," Mastura said.

Last year, amidst the continuous surge of the Covid-19 pandemic and call for the BTA extension, RBOI generated a total of Php2.8-billion worth of investment, contrary to its Php2.5-billion investment target.

The meeting was attended by Board of Governor Mohamad O. Pasigan, along with Ex-Officio Board of Governors MTIT Minister Abuamri A. Taddik, MAFAR Minister Mohammad S. Yacob, and MFBM Deputy Minister Atty. Ubaida C. Pacasem.  (Bangsamoro Information Office)