BOI, BATANGAS PROVINCIAL GOV’T INK PARTNERSHIP FOR ROBUST INVESTMENT PROMOTION AND FACILITATION

BATANGAS CITY— As part of its objectives to boost domestic investments in the Philippines, the Board of Investments (BOI) signed a Memorandum of Agreement (MOA) with the Provincial Government of Batangas on Investments Promotion and Facilitation on August 12, 2024.

Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo and Batangas Governor Hermilando I. Mandanas signed the agreement at the Batangas Provincial Capitol. With this signing of the MOA, the two parties will strengthen their partnership to ensure ease of doing business and quick realization of investments in Batangas province.

The signing of the MOA is proof of the continued efforts of the BOI to strengthen its network with Local Government Units (LGUs) to promote seamless collaboration and ease of doing business between the national and local governments.

Through the said MOA, BOI will provide technical assistance to Batangas such as organizing learning programs and activities to capacitate LGU frontliners on investment promotion and facilitation and investor servicing.

BOI will collaborate with the Batangas Provincial Government to promote the province as a prime investment destination. In return, Batangas will provide BOI with all necessary information relevant to investment promotion, such as land availability and the cost of doing business. Additionally, Batangas will appoint a designated green lane focal unit or person to coordinate with BOI-OSACSI for facilitating strategic investments through the green lane.

Undersecretary Rodolfo said that Batangas Province has the advantages of the 5Ps: “Power, Port, Place, People, and the Provincial Government” which ultimately make the Province an attractive investment destination in the Philippines.

He also shared that the EO18 initiative on Green Lanes for Strategic Investments was inspired by the Mandanas Ruling. In 2018, the Supreme Court (SC) decided that the just share of local government units (LGUs) from national taxes is not limited to “national internal revenue taxes” collected by the Bureau of Internal Revenue (BIR) but also includes collections such as customs duties by the Bureau of Customs (BOC).

Batangas Province has been one of the top economic drivers in CALABARZON, reported as the region’s fastest-growing economy in both 2021 and 2022. As a first-class province, Batangas serves as a vital gateway for trade and investments because of its robust infrastructure, including the Batangas International Port.

Batangas province has been instrumental in facilitating the permits and licenses of strategic investments, particularly renewable energy projects, under the Green Lane. With at least 16 economic zones and industrial parks housing over 849 locators, Batangas thrives in various sectors, including tourism, agriculture, infrastructure, and renewable energy.

As of 2023, the province has 17 operational power plants utilizing various energy sources, including coal, oil-based, natural gas, solar, and geothermal. Additionally, there are 19 more planned power projects in the coming years, with particular emphasis on nine offshore wind projects expected to undergo testing and commissioning by 2029.

BOI continues to strengthen its network with Local Government Units (LGUs) to promote seamless collaboration and ease of doing business between the national and the local government.