BOI steps up investor awareness program

The Board of Investments (BOI) is stepping up efforts in strengthening investor awareness on the latest government investment policies, regulations, and procedures.

This year, the investments promotion arm of the Department of Trade and Industry is planning to conduct five investor awareness seminars throughout the country regarding new investment policies and business registration procedures of various government agencies.

“It is very important that we offer a conducive environment to investors – a place where they could quickly set up, expand, and diversify their businesses. An important first step is to capacitate and make them fully aware of the latest government policies, regulations, and procedures, making it easy for them to comply with government requirements,” BOI director Domingo Bagaporo said.

BOI has so far conducted two investment awareness seminars in the first half and it intends to organize three more within the second semester of the year.

The agency said the first seminar this year catered to companies in the renewable energy sector and those in the healthcare facilities and services sector that are planning to register, expand and diversify their business projects with the BOI.

The second seminar, meanwhile, focused on the agency’s policies and procedure on availment of incentives.

“BOI assists investors in the facilitation of their issues and concerns arising from dealings with other government agencies during or after the BOI registration. Participants are oriented on the process of availing incentives, the investors’ obligations as BOI registered firms and how the agency monitors their compliance,” Bagaporo said.

Total approved investment pledges by the BOI from January to April this year jumped 64 percent to P117.3 billion.

Of these investments, bulk or 84 percent came from domestic corporations while 16 percent came from foreign companies.