The Board of Investments (BOI), the industry development and investments promotion arm of the Department of Trade and Industry (DTI), is continuing its efforts to further strengthen the awareness level of its stakeholders on the latest government investment policies, regulations, and procedures. This year, it plans to conduct about 5 investor awareness seminars throughout the country.
The BOI Investment Awareness Seminar to Strengthen the Investors and STakeholders (BOI ASSIST) BOI-registered and prospective investors are briefed on the latest investment policies and business registration procedures of various government agencies.
“It is very important that we offer a conducive environment to investors—a place where they could quickly set up, expand, and/or diversify their businesses. An important first step is to capacitate and make them fully aware of the latest government policies, regulations, and procedures, making it easy for them to comply with government requirements,” said BOI Director for Investment Assistance Service Domingo Bagaporo.
Two seminars were already conducted in the first half of the year at the Best Western Plus Antel Hotel in Makati City and at the Development Academy of the Philippines. Three more seminars will be conducted at the second half of the year.
Attended by around 60 participants, the first seminar was specifically geared for companies in the renewable energy sector and in the healthcare facilities and services sector planning to register, expand and/or diversify their business projects with the BOI. Partner government agencies such as the Department Energy, the Department of Health, and the Department of Agrarian Reform, sent resource persons to address the concerns of participants.
The second seminar was attended by around 70 participants. Topics include the agencies’ policies and procedure on availment of incentives. Atty. Euvimil Nina R. Asunsion of the Bureau of Internal Revenue who discussed the Bureau’s policies and procedure on availment of Incentives, Atty. Maria Corazon A. Arancon of the Investment Ombudsman, and Mr. Jose Antonio S. Vilar of the Philippine Stock Exchange who highlighted the benefits of publicly listing a company, which is a requirement for a BOI-registered company.
During investor awareness seminars, the participants are briefed on the available aftercare services of BOI. BOI assists investors in the facilitation of their issues and concerns arising from dealings with other government agencies during or after the BOI registration. Participants are also oriented on the process of availing incentives, the investors’ obligations as BOI registered firms and how the agency monitors their compliance.
Partner agencies for the BOI ASSIST include among others, Bureau of Customs, Food and Drug Administration, Bureau of Immigration, Bureau of Internal Revenue, Department of Agrarian Reform, Department of Agriculture, Department of Energy, Department of Environment and Natural Resources, Department of Interior and Local Government, Housing Land Use Regulatory Board, National Commission on Indigenous Peoples, Office of the Ombudsman, and the Securities and Exchange Commission.