Leaving a legacy
As the Board of Investments (BOI) celebrates its 50th year anniversary with a series of morning sessions featuring its Managing Heads through the years culminating with a session with former Prime Minister (PM) and founding Chairman Cesar EA Virata, one appreciates how the solid foundation of service and professionalism that is BOI today was built by the legacy of each managing head and his team.
Former Prime Minister Virata began the process by recruiting only the best and personally interviewing key managers. Former trade and industry secretary and Securities and Exchange Commission Chair Lilia Bautista, who started her sterling public service in BOI, recalls how PM Virata asked her a very technical question on the law of the seas long before the West Philippine Seas became a point of contention for the country and its neighbors, China and other Southeast Asian countries. The reputation of BOI for professionalism was set by PM Virata emphasizing merit in promotions and emphasizing set procedures and rules but implemented with a service orientation.
The longest stint as BOI managing head was Edgardo Tordesillas, my professor in the MBA program of the University of the Philippines. He continued the momentum set by PM Virata towards higher levels of professional service. BOI old timers recall how their presentations to the Board, not by the directors but by them as staff was akin to a "revalida" as the governors plied them with questions and clarifications. The learning experience was a tremendous opportunity for the young staff then as the lessons coming from the views of the governors with extensive business and government service was a valuable addition to their knowledge and skills.
The second longest Managing Head was Tomas Alcantara, who spearheaded the dramatic transformation of the Cavite-Laguna-Batangas-Rizal-Quezon (Calabarzon) into a seedbed of globally competitive enterprises in industrial estates. He marshaled the resources of other government departments to support the vision and create a facilitative environment for industry. Internally, he moved the BOI from its previous regulatory stance towards a promotional thrust assisted by researches and studies by international organizations like UNIDO. Staff development was heightened with training and education programs including a masters program in Germany.
I was fortunate to follow Undersecretary Alcantara as I could now move to new initiatives, ensuring greater convenience for investors with a One Stop Shop in BOI emphasizing small industries development through linkages with large companies; introducing environmental compliance in the BOI-registered firms and assisting the total national effort towards environmental sustainability and partnering with local government units in investment promotion. To spread investments to the countryside meant the creation of a Regional Investment office which assists local government units in formulating local investment code and site specific investment promotion schemes.
While I am not too familiar with those who came after me, from the records of the Board of Investments it can be seen that all the succeeding Managing Heads continued to bring BOI towards being a dependable and important team in realizing the Philippine vision of continuing inclusive growth of the Filipino people.
Today, under the sterling leadership of BOI Managing Head Ceferino Rodolfo BOI continues to attract foreign and local investments to priority areas like business process outsourcing, electronics industry, renewable energy and shipbuilding.
It is implementing the Comprehensive Automotive Resurgence Program (CARS) which fiscal support for investments of car manufacturers in body shell, large plastic parts and other strategic parts not locally done. BOI has retained its professionalism and full service orientation gaining the respect and support of private businesses here and abroad.
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