The Philippine Board of Investments (BOI), the industry development and investments promotion arm of the Department of Trade & Industry (DTI), is sustaining its efforts in providing a more conductive business environment in the country as it continues to equip businesses and investors with capability-building training programs on how they can effectively avail of the agency’s various investor assistance services.
The BOI is spearheading this year the conduct of Online Investment Assistance Training for Investors specifically how businesses and investors can maximize BOI’s One Window Network (BOI-OWN).
BOI Director for Investment Assistance Service Domingo Bagaporo expressed confidence that BOI-OWN, as an innovation will minimize the cost of doing business in the country and contribute to the improvement of the country’s global competitiveness with the inflow of more investments in the long run.
“Effective and efficient facilitation of investors’ issues and concerns is very important because it is one deciding factor for any potential investor to invest. It is also very critical for the retention, expansion and diversification of the existing businesses in the country. It can sustain the investors’ confidence and thus, increase the global competitiveness of the country,” Director Bagaporo said.
The first training was conducted recently (March 29, 2016) at the BSA Twin Towers in Ortigas Center, Mandaluyong City and attended by around 50 participants composed mostly of representatives from existing BOI-registered firms. Three more trainings are set to be conducted for the rest of the year with BOI-registered and non-BOI registered companies as targeted participants.
BOI-OWN is a cloud-based web portal and mobile application system that enables investors not only to lodge queries and concerns online, but also access a databank of information related to business and investments. It also includes a system that can track and monitor real time status of an investor’s inquiry online. BOI-OWN can also be used to request for pre-investment, post-investment, inbound mission and joint venture assistance.
Soft launched last October 2015, the BOI-OWN Web Portal also has a mobile application version called PH Board of Investments now available for download at the Google Play Store for smart phone owners using the Android Operating System (OS). Another version for Iphone users will be available for download soon.
BOI-OWN is aligned with the Philippine Development Plan’s (PDP) goal of achieving a better business environment by streamlining bureaucratic procedures and making it more conducive to business procedures.