Saturday Jun, 10 2023 06:26:24 AM

Economic News

Bangsamoro investment board surpasses 2023 target

COTABATO CITY – The Bangsamoro Board of Investment (BBOI) has accomplished another milestone by logging PHP2.7 billion worth of investments from January to May, surpassing its target of PHP2.5 billion investment pledges this year.

"We are proud to report that BBOI has approved a total of 11 projects from January to May 2023, which brought PHP2.7 billion worth of investments – a 108 percent increase compared to the same period last year," BBOI chairperson Mohammad Pasigan said in a statement Friday.


Plan to reopen strategic Lanao del Sur airport on

COTABATO CITY - Local executives and members of the Muslim and Christian communities support the plan to reopen a mothballed airport in Malabang, Lanao del Sur to improve the investment climate in the area and in towns around.


Stakeholders see economic boom with new BARMM capitol 

COTABATO CITY - Merchants and politicians support the proposed creation of a new Bangsamoro regional capitol in Parang town in Maguindanao del Norte, certain of its positive impact on trading centers in the area and in two other provinces nearby.

The 80-member interim parliament of the Bangsamoro Autonomous Region in Muslim Mindanao is now deliberating on the Bangsamoro Transition Authority Bill 43, the enabling measure for the transfer of the regional capitol to Parang, a historic seaside town in Maguindanao del Norte.


Central Mindanao-Basilan shipping route opened

COTABATO CITY - Merchants in Basilan and Maguindanao del Norte were elated with the government’s having established a shipping route connecting both provinces, for them essential to the economic growth of the two areas. 

Ronald Halid Dimacisil Torres, chairman of the Bangsamoro Business Council, said Saturday they are grateful to the Ministry of Transportation and Communication-Bangsamoro Autonomous Region in Muslim Mindanao for setting up the Basilan-Maguindanao del Norte sea route. 


US supports RORO shipping services to boost BARMM economy

THE United States government supports the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) government’s of a roll-on, roll-off (RORO) shipping service that will boost local trade and investment in the region by linking Polloc Port in Parang, Maguindanao to Lamitan, Basilan.


Husky Bus now serving Cotabato City-Wao route and vice versa

COTABATO CITY – The Ministry of Transportation and Communications in the Bangsamoro Autonomous Region in Muslim Mindanao (MOTC-BARMM) has given the green light for the Husky Bus company to commence its Cotabato City-Wao, Lanao del Sur route and vice versa starting today.

This after officials of MOTC-BARMM joined the road test drive of 64-seater Double Deck Hanger Bus on Tuesday, March 7.


Fuel prices to go up Tuesday, oil firms say

COTABATO CITY – Oil companies today announced the pump prices of gasoline, diesel, and kerosene will increase by nearly P3 per liter starting Tuesday, Jan. 24.

The price adjustment was due to what the industry players call as movement of fuel prices in the world market.

They said the price of gasoline will go up by P2.80 per liter while diesel with have a P2.25 per liter increase.

Kerosene is about P2.40 per liter


BARMM approves P475-M investments for 2023

COTABATO CITY  -- The Bangsamoro Board of Investments in the Bangsamoro Autonomous Region in Muslim Mindanao (BBOI-BARMM) today announced it approved the registration of three projects with a total investment worth P475 million to kick off this year’s BARMM investment generation.

BBOI-BARMM Chairperson Mohamad Omar Pasigan named the new investment projects as the “Beauty of Life Beach Resort,” “KS Agricultural Products Trading” and “Shahada Medical and Diagnostic Clinic.”


Bangsamoro Business Congress recognizes Cotabato Light

LOOK: Cotabato Light received a plaque of appreciation from the Bangsamoro Business Council for its partnership and continued support to the development of the Bangsamoro business community.

The plaque was received by Cotabato Light Managers, Engr. Arsenio Jovero III and Engr. Anthony Bueno during day 3 of the 1st Bangsamoro Business Congress held at Cotabato State University in Cotabato City, with a theme "Strengthening Partnerships Towards a Resilient Bangsamoro Economy".



At least P2 fuel price hikes to greet motorists on Jan. 3

MANILA – Oil companies will implement big-time price increases on Tuesday, the first working day of 2023.

In separate advisories, Caltex, Cleanfuel, Petro Gazz, Seaoil and Shell will hike gasoline prices by PHP2.90 per liter and PHP2.10 per liter for diesel.

Caltex, Seaoil, and Shell will also increase kerosene prices by PHP3.05 per liter.

According to Shell, high freight rates pushed higher fuel prices at the start of this year.

Meanwhile, prices of liquefied petroleum gas (LPG) went down by PHP3.09 to PHP4.20 per kilogram effective Jan. 1.



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