NOW on its 10th year, the Board of Investments (BOI), through its Investments Assistance Center/Service (IAS), hosted the annual Awareness Seminar to Strengthen Investors and Stakeholders (ASSIST) at the Crowne Plaza Manila Galleria, Ortigas on October 18, 2024.
Centered around the theme “Unlocking Opportunities: Investment Facilitation and Informative Drive for Sustainable Growth,” the event welcomed 120 participants from key sectors such as renewable energy, agriculture, manufacturing, and infrastructure, who are looking to register, expand and/or diversify their projects with BOI. The seminar discussed the latest investment policies, procedures, and support programs to drive sustainable growth and business expansion in the Philippines.
BOI Executive Director Bobby Fondevilla opened the seminar by underscoring the relevance of this year’s agenda, noting that the topics chosen were based on the frequently-asked questions from BOI-registered companies. The discussions included critical insights on the establishment of Green Lanes for Strategic Investment, taxation regulations, trading and customs guidelines, public-private partnership scheme, and government assistance programs. He further emphasized that the seminar aims to address essential information for businesses seeking to expand, register, or diversify their projects under BOI.
The event featured valuable sessions led by representatives from BOI and its partner agencies. BOI Director Ernesto Delos Reyes, Jr discussed the agency’s initiatives on ease of doing business, intervention to address issues and concerns of investors, including the creation of Green Lanes for Strategic Investment. Local fiscal incentives were covered by Department of Finance – Bureau of Local Government Finance (DOF-BLGF) Director Brenda Miranda, who outlined guidance for registered enterprises looking to access government support.
Adding to the local perspective, Quezon City Local Economic Development and Investment Promotions Office (LEDIPO) Head Juan Manuel Gatmaitan encouraged investors to consider Quezon City for their expansion projects, emphasizing its premier location and generous grant of fiscal and non-fiscal incentives. Meanwhile, Public-Private Partnership (PPP) center Executive Director Eleazar Ricote provided attendees updates on amendments to the PPP Code and pipeline projects that could benefit public-private collaborations. Further, Energy Regulatory Commission (ERC) Director Atty. Krisha Marie Buela addressed ongoing concerns on procurement, execution, and evaluation of power supply agreements faced by energy companies.
On the other hand, Bureau of Customs (BOC) Operations Officer Julius Altiche discussed the BOC’s modernization initiatives and updated guidelines on importation and exportation, while Bureau of Internal Revenue (BIR) Tax Audit Chief Jun Jun Andallo concluded the discussions with updates on Value-Added Tax (VAT) regulations and the Ease of Paying Taxes law.
BOI Director Delos Reyes closed the seminar by encouraging a collaborative approach between government sectors and the private enterprises, emphasizing that such partnerships are vital to fostering a business environment where business expand and grow. He assured BOI-registered companies and potential investors that BOI remains committed to providing the necessary assistance to address any issues or delays involving regulatory processes.
He explained that by capacitating existing and potential investors and making them aware of the latest government policies, BOI is able to educate private companies on the different initiatives that the national government agencies are undertaking to improve ease of doing business in the country and encourage private sectors to participate more in PPP projects.
This year’s ASSIST seminar also featured cultural performances by the Marikina Dance Guild and the Pamantasan ng Lungsod ng Marikina Dance Troupe, celebrating local talent and adding a cultural touch to the event.
The forum, especially designed for BOI-registered enterprises, is part of the continuing efforts of the IAS to further strengthen the awareness level of its stakeholders on the latest government investment policies, regulations, and procedures. As BOI continues to strengthen its mission to promote the Philippines as a prime investment destination, two additional ASSIST seminars are scheduled in Bacolod City and General Santos City on November 14 and 28 respectively.