The Philippine Board of Investments (BOI), the industry development and investments promotion arm of the Department of Trade & Industry (DTI) is further capacitating investment promotion officers and frontliners in the DTI Regional and Provincial Offices and local government units (LGUs) in answering investment-related inquiries from potential and existing investors in their areas of jurisdiction as the agency conducts Investment Briefing and Counseling Seminars.
“By regularly capacitating our investment promotion officers and frontliners in field offices with the much-needed trainings, we empower them to have fact-based confidence in answering investment-related inquiries. These initiatives result to excellent service and positive customer satisfaction feedback from existing and potential investors inquiring at the field offices, which then encourages more investments in the country,” said BOI Director for Investment Assistance Domingo Bagaporo.
The BOI, being the lead investment promotion agency of the country, aims to become the Center of Excellence in investor assistance and investment concerns facilitation. Through the Counseling and Business Requirements Division of BOI’s Investments Assistance Service, the agency has been regularly conducting Investment Briefing and Counseling Seminars in the various DTI Field Offices and LGUs, the latest of which was conducted last month at the Parañaque City Hall.
In the Paranaque leg, IAS capacitated around 50 participants comprised of officials and employees from the various units of the city that are involved in assisting entrepreneurs and investors in setting up their businesses.
The investment counselors and frontliners were capacitated on the basics of doing business in the Philippines including a comprehensive discussion on the provisions of the Foreign Investments Act of 1991, the 10th Regular Foreign Negative List, the investors’ options for entry, the processes of obtaining an investors visa, the Retail Trade Liberalization Act of 2000, doing business with incentives as provided by the Omnibus Investment Code or Executive Order 226, BOI’s Investment Priorities Plan, the different incentives offered by BOI, Philippine Economic Zone Authority, Clark Development Corporation, and Subic Bay Metropolitan Authority, and the BOI’s filing and registration fees.
The participants in the seminar were also provided tips on how to be effective investment counselors and frontliners. They were also provided information on how to prepare the Local Investments and Incentives Code which may further entice investors to do business within the LGUs respective jurisdictions.
BOI is set to conduct three more investment briefings and counseling seminars in LGUs within the National Capital Region in the remaining months of the year.
“The BOI is committed not only to provide incentives to qualified business activities, but also the multiplier effects of having investors in the Philippines–and that is to generate jobs and promote balanced economic development throughout the country”, said Director Bagaporo.