The Department of Trade and Industry (DTI) and the Board of Investments (BOI) are expanding their services to the provinces to create a favorable business environment for investments nationwide.
“The DTI and BOI are continuously working to expand and upgrade their services to a broad range of local and foreign investors not just in Metro Manila and its nearby provinces but countrywide,” DTI Undersecretary Ponciano C. Manalo Jr. said.
The BOI currently has three extension offices in the cities of Cebu, Davao, and Cagayan de Oro covering the regions in the South. The extension office in Cebu covers the entire Visayas while the extension offices in Cagayan de Oro and Davao cover Northern Mindanao and Southern Mindanao, respectively.
Manalo added that the BOI’s central office is closely supervising and continuously strengthening its extension offices, particularly in Visayas and Mindanao.
“We have conducted a series of meetings in these extension offices for them to mirror the investment assistance services provided by BOI’s Investment Assistance Services Center (IACS) at its home office in Makati City,” Manalo said.
The IACS provides the crucial, expanded and upgraded services to a wide range of investors, and offers both frontline and after sales services that are designed to persuade investor decisions to locate and retain their investments in the country.
“We are expecting a lot of investors in the countryside and that requires staff work on investment promotion, facilitation and aftercare services at the local level,” Manalo said.
Manalo also said that the BOI recently conducted meetings with local government units (LGU), national government agencies (NGAs), and investment promotion agencies (IPAs) in provinces covered by its extension offices, particularly in Cebu, Davao, Misamis Oriental, and Zamboanga.
Led by BOI Investment Assistance Center executive director Raul V. Angeles, LGU officials and staff were encouraged to establish a network to assist investors, and to identify potential investment areas in their locality. A separate meeting with NGAs on the issuance of licenses and permits was also conducted.
Also, investment promotion agencies such as the Mindanao Development Authority, Philippine Veterans Investment Development Corporation (Phividec) Industrial Authority, and Zamboanga City Special Economic Zone Authority (Zambo Ecozone) were also consulted to identify and discuss potential investment opportunities.
“Our ultimate goal is to convert BOI investor services into a truly one-stop action center and become the center of excellence in Asia. We aim for continued operation of businesses in a competitive environment to sustain and create more jobs nationwide as well as speedy issuance of licenses and permits to investors that locate and expand their businesses in the country,” Manalo said.