THE government is now teaching frontliners and investment promotion officers of local government units (LGUs) the rudiments of entertaining local and foreign investors and how to make it easier for them to do business in the country.
The drill is part of the Board of Investments’ (BOI) continuing efforts to make stakeholders aware of the latest investment policies, regulations and procedures.
“It is imperative that we promote ease of doing business in the Philippines to attract more businesses to set up shop in the country,” BOI Investments Assistance Service (IAS) Director Domingo Bagaporo said in a statement.
“By capacitating our local government units on handling investment-related inquiries and making them aware of the latest government policies, we ensure the smooth processing of investment requirements for both foreign and local investors.”
The IAS Counseling and Business Requirements Division (CBRD) did a series of investment briefing and counseling seminars in the regions and is now focusing to make frontliners and investment promotion officers in the National Capital Region (NCR) better equipped in helping potential and existing investors.
The first installment of the NCR seminars was held in the cities of Parañaque, Pasay, Mandaluyong, Taguig, Pasig and Makati last September and October, involving 291 city government officials and employees.
The participants were required to tackle provisions of the Foreign Investments Act of 1991, the 10th Regular
Foreign Investment Negative List, the investors’ options for entry, the processes in obtaining an investor’s visa, the Retail Trade Liberalization Act of 2000, the Omnibus Investments Code of 1987 and the 2014-16 Investment Priorities Plan.
The different incentives offered by the BOI, Philippine Economic Zone Authority, Clark Development Corp. and Subic Bay Metropolitan Authority and the BOI’s filing and registration fees were also discussed.
The BOI is set to conduct more seminars in the remaining regions, cities and municipalities in the NCR and other potential investment destinations next year.