COTABATO CITY—The Bureau of Trade and Industry (BTI) under the Ministry of Trade, Investments and Tourism (MTIT) recorded a total of 4,740 approved Business Name Registrations (BNRs) across Bangsamoro region as of first quarter of 2021.
Despite the ongoing public health crisis due to Covid-19 pandemic, the Ministry registered more than 300% of Business Names in the entire BARMM compared to 1,251 BNRs recorded during the 1st quarter of 2020.
The said BNRs have generated a total of Php423,242,612.00 investment cost and 10,109 employment as of 1st Quarter of 2021.
The increase was mainly due to the intensive campaign of the Ministry in registering business names and the participation of the MTIT Provincial Offices to the Business One Stop Shop (BOSS) activity of the Local Government Units (LGUs) in the region.
Recent data showed that the key growing sectors amid Covid-19 crisis include financial and insurance services, construction, professional services, transport, storage, health, and food services.
MTIT Minister Abuamri Taddik noted during the celebration of Bangsamoro Labor Day on May 1, the ministry has been doing its part to sustain socio-economic development suitable to the systems of life, needs, and aspirations of the Bangsamoro People.
“This is through bringing the inclusive services to communities, ensuring the implementation of laws provided in the Bangsamoro Organic Law, ensuring multi-stakeholder participation and facilitating appropriate partnership,” Taddik said.
Meanwhile, Dir. Hussein Biruar of BTI said that despite the threat of the pandemic, “we encourage the MSMEs to continue their businesses especially those essential commodities.”
However, Biruar reminds the enterprises and establishments to observe the minimum health protocols and adjust to the new normal. -Bangsamoro Information Office
