BARMM's economy blooms

Since its establishment in 2019, the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has steadily emerged as a promising frontier for economic growth and development.

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Once perceived as a region fraught with challenges, BARMM is now experiencing favorable investor confidence, signaling a new era of prosperity and opportunity for its people.

As of October 2024, the Bangsamoro region drew investments worth P4.7 billion, exceeding its initial target of P2.6 billion by 181 percent, the Bangsamoro Board of Investments reported.

Although the 2024 economic report from the Philippine Statistics Authority has yet to be released, the agency has earlier reported an encouraging picture, revealing a 4.3 percent surge in BARMM's economy in 2023, translating to a substantial P11.9 billion increase in its estimated gross domestic product (GDP). This growth, which saw the regional GDP climb from P280.3 billion to P292.2 billion in 2023, signals a positive trajectory for a region long associated with conflict and underdevelopment.

A significant development that underscores the growing confidence in BARMM's future is the recent grand opening of the KCC Mall in Cotabato City on April 2.

The newly inaugurated KCC Mall stands as a towering four-story structure. Spanning 190,000 square meters on a prime six-hectare location. It is equipped with eight state-of-the-art cinemas, an exclusive directors' lounge, and a spacious convention center. Adding to its allure, plans are underway for a premier hotel within the complex, promising to further boost the local economy and provide much-needed amenities. KCC offered a huge P10-billion fresh investment into the BARMM economy, which will generate 10,000 direct and indirect employment.