More powers for Bangsamoro investment agency sought

GENERAL SANTOS CITY (MindaNews / 11 Nov) – Lawmakers in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) are pushing for the Bangsamoro Board of Investment (BBOI) to have regulatory powers in a bid to attract more private investments in the area.

Five members of the Bangsamoro Transition Authority (BTA) or the Bangsamoro Parliament filed Bill 409 or the Bangsamoro Board of Investments Act of 2025, which seeks to strengthen the role of BBOI, including the granting of fiscal incentives, aligned with national laws, to private investments.

BARMM Interim Chief Minister Abdulraof Macacua (3rd right) witnesses the approval of new investments by the BBOI, headed by Mohamad Omar Pasigan (2nd right). BBOI photo

BTA Floor Leader John Anthony Lim, one of the principal authors, said the BBOI will serve as the regulatory board of the region on investments, attached to the Office of the Chief Minister.

Currently, the principal function of the BBOI is to promote the investment potentials and attract investors to the region.

On Monday the BTA’s media division reported that the proposed measure also seeks the reorganization of the BBOI to strengthen its institutional capacity and staffing structure.

The bill underscores the historical importance of the agency, which began as the Regional Board of Investments (RBOI) under Executive Order No. 458 issued by then President Corazon Aquino in 1991. The RBOI was the first national office devolved to the defunct Autonomous Region in Muslim Mindanao (ARMM). The move recognized the central role of private enterprise in regional economic development.

The ARMM was replaced by the BARMM in 2019 following the ratification of Republic Act 11054 or the Organic Law for the BARMM.

The establishment of the Bangsamoro region is the key component of the Comprehensive Agreement on the Bangsamoro (CAB), the final peace agreement signed by the Philippine government and the Moro Islamic Liberation Front in 2014 after 17 years of negotiations.

Under Bill 409, the BBOI will continue to operate as an Investment Promotion Agency (IPA) under the Fiscal Incentives Review Board (FIRB), in line with the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, or Republic Act No. 12066.

Once enacted, the measure will institutionalize the formulation of a Regional Investment Priorities Plan (RIPP) consistent with the national Strategic Investment Priorities Plan (SIPP) approved by the President. The regional plan will determine preferred areas of investment based on long-term economic potential and social objectives.

It also reorganizes the BBOI’s Board of Governors, which will be chaired by the BBOI head, with the Minister of Trade, Investments, and Tourism as vice chair. The Ministers of Finance and Budget and Management and of Agriculture, Fisheries, and Agrarian Reform will serve as ex-officio members, along with two member-governors to be appointed by the Chief Minister.

The authors said the measure aims to sustain investor confidence in the region and ensure the region’s participation in national efforts to attract and retain investments that generate employment and boost local revenues.

Under the bill, all incumbent BBOI personnel will continue in their current positions without prejudice upon the measure’s approval.

The other principal authors of the bill are Kitem Kadatuan Jr., Nabil Tan, Jose Lorena, and Baintan Ampatuan. (Bong S. Sarmiento / MindaNews)