The Department of Trade and Industry, through its investments promotion arm Board of Investments (BOI), has announced plans to offer training seminars for investors on how to maximize investment services online, particularly using BOI’s One Window Network (BOI-OWN).
The planned training is seen as a complement to BOI’s efforts to provide a more conducive business environment through helping investors navigate processes and avail of the agency’s various investment programs.
Domingo Bagaporo, BOI director for Investment Assistance Service, said BOI-OWN would help minimize the cost of doing business in the country and contribute to the improvement of the country’s global competitiveness by encouraging 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. 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,” Bagaporo said.
The BOI said the first training was already conducted on March 29, and attended by approximately 50 participants mostly representing existing BOI-registered firms.
The agency said three more training seminars are planned for the rest of the year, with both 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 to lodge queries and concerns online, as well as access a databank of information related to business and investments.
It 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.
The BOI-OWN Web Portal was soft-launched in October 2015 and has a mobile application version called PH Board of Investments, which is 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 goal of achieving a better business environment by streamlining bureaucratic procedures and making the environment more conducive to business processes.