THE Bureau of Trade and Industry (BTI), which is under the Ministry of Trade, Investments and Tourism in the Bangsamoro Autonomous Region in Muslim Mindanao (MTIT-Barmm), recorded a total of 4,740 approved Business Name Registrations (BNRs) across the autonomous region in the first quarter of 2021.
Minister Abuamri Taddik of MTIT-Barmm said Wednesday, May 5, that despite the coronavirus disease (Covid-19) pandemic, they registered more than 300 percent of Business Names in the entire Barmm compared to 1,251 BNRs recorded during the first quarter of 2020.
Taddik said the BNRs have generated a total of P423,242,612 investment cost and 10,109 employment as of first quarter of 2021.
Taddik said 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 pandemic include financial and insurance services, construction, professional services, transport, storage, health, and food services, according to Taddik.
He noted that during the Labor Day celebration, the ministry has been doing its part to sustain socio-economic development suitable to the systems of life, needs, and aspirations of the Barmm residents.
"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," he said.
Meanwhile, BTI Director Hussein Biruar said they encouraged the micro, small and medium enterprises (MSMEs) to continue their businesses, especially those essential commodities despite the health pandemic.
But Biruar reminded the MSMEs to observe the minimum health protocols and adjust to the new normal. (SunStar Zamboanga)