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FOREIGN firms operating in the country plan to expand, the Board of
Investments (BOI) said Friday.
Trade Undersecretary Elmer C. Hernandez, who is
also BOI managing head, said that foreign and local investors are
bullish on the Philippine investment climate as he reported the
results of the agency’s fourth quarter investor survey and
after-care program.
“Company surveys and visits showed that BOI-registered
firms are bullish of the business prospects in the country and
expressed widening their venture exposure in the country,”
Hernandez said.
He said that this is the result of the
“strategic investors after care” (SIAP) program of the agency,
which involves lending support and assistance during the
investor’s stay in the country.
“Provided the government continues to update
[them] with vital information and support [them] with incentives and
other business solutions, BOI-registered firms will continue to
operate in the country,” he said.
Grace Cabradilla, vice-president for finance and
administration of Germany-based Dedon Manufacturing, Inc., said that
the information given her company provided a better perspective of
the business climate, thus encouraging the firm to increase its
investments in the coming years.
Indophil officials meanwhle said that the
efficiency and accommodating treatment of the government gave them
more reason to stay in the Philippines.
Hernandez said the SIAP approach engaged
targeted investors in a way that will allow BOI to influence the
investment and related business decisions of investors. “Its key
contribution to the investment promotion is to determine retention,
expansion and diversification of existing investments in the
country,” he said.
The SIAP program involved visiting 42 companies,
with each visit entailing an inquiry on the status of the business,
after-care service and resolution of inquiries and issues. SIAP is
one way of knowing individual problems of companies and bringing
these to concerned agencies for solutions.
Ruby S. Chavez-Madria, finance senior manager of
Nanox Philippines, Inc., said SIAP is able to address the concerns
with other government agencies that their company is transacting
with as well. The Clark Special Economic Zone-based company is an
P1.8 billion semiconductor project registered with the BOI.
Trade Secretary Peter B. Favila said the
government is mindful of the plight of business in the country.
“The SIAP program aims to put more people on
the ground to service the needs and concerns of investors. It is our
way of ensuring that we keep our promise to investors during our
business road shows that the country is a secure place for their
investments,” he said.
-- Katrina Mennen A. Valdez
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