INVESTMENT INFLUX. Bangsamoro Board of Investment chairperson Mohamad Omar Pasigan (center) holds the certificate of registration that the board had granted to tourism industry investors on Monday (July 1, 2024). The PHP467.8 million investment is for Dahuwan Tampeh Resort in Tawi-Tawi province. (Photo courtesy of BBOI)
COTABATO CITY – The Bangsamoro Autonomous Region in Muslim Mindanao’s (BARMM) Board of Investments (BBOI) has approved the registration of a major player in the region’s tourism industry, putting in P467.8 million in capital, investment officials said Tuesday.
“This marks another significant investment in the BARMM, signifying the growing attractiveness of the region as a tourist destination,” BBOI chairperson Mohamad Omar Pasigan said in a statement.
Pasigan said the BBOI issued the green light for Dahuwan Tampeh Resort’s registration during the board meeting on Monday to bolster the region's tourism industry.
He said the new investment further increased the total assets in the region generated this year to over PHP3.8 billion.
As of the second quarter, BBOI registered a total investment of PHP3,822,879,582, which is some 50 percent higher than the annual target of PHP2.6 billion of investments set for this year.
Pasigan said the latest investment in Tawi-Tawi boasts a project cost of PHP467,803,392 and is poised to become a key player in the local tourism landscape.
“The approval of the project’s registration signifies the resort’s compliance with BARMM’s investment requirements and paves the way for its construction and eventual operation,” he said, adding that the resort is also expected to create new jobs and opportunities for local businesses.
With its pristine natural environment, rich cultural heritage, and warm hospitality, he said the BARMM has the potential to become a central tourist hub in the Philippines.
In May this year, BBOI also approved the Silong Verandah Mountain Resort in Barangay Awang, Datu Odin Sinsuat, Maguindanao del Norte. The resort's total project cost is PHP74.4 million and is expected to generate 45 new jobs, particularly for the Teduray indigenous community members. (PNA)
