BOI, DTI hold investments forum

By Analiza S. Macatangay

NAGA CITY -- The Board of Investment (BOI), in partnership with the Department of Trade and Industry (DTI), together with the Industry’s Regional Operations and Development Group (RODG) spearheaded on Friday the 2012 Investment Priority Plan (IPP) Investment Roadshow 2012 at Villa Caceres Hotel at Magsaysay Avenue in Naga City.

Naga City is among the 11 priority areas in the Philippines that the road show slated visit to promote investments opportunities. Other areas include Bacolod, Baguio, Butuan, Cagayan de Oro, Davao, Dipolog, Pasay Puerto Princesa, Tacloban and Tagbilaran.

The activity endeavors to create awareness, particularly to the existing businessmen and potential entrepreneurs and clients on the benefits of registering their business at BOI and the countless possibilities of developing their industry with the help of other government agencies and private entities as partners.

For this year, DTI Undersecretary Merly Cruz enumerated the mandatory lists of businesses that require their inclusion in the IPP. It includes Industrial tree plantation which covers the extensive plantation of tree crops; exploration, mining, quarrying and processing of minerals; publication or printing of books or textbooks and the refining, storage, marketing and distribution of petroleum products.

Cruz added the establishment of waste recycling facilities and waste water treatment facilities under the ecological solid waste management and clean water projects respectively, are also part of the mandatory business inside the IPP program.
Also included in these priorities are the rehabilitation, self-development, and self-reliance of persons with disability and renewable energy and tourism.
Other areas of commerce cited under the 2012 IPP as investment priorities to further strengthen 2011’s investment generation agenda and continue its development this year include Agriculture or agribusiness and fishery, creative industries or knowledge-based services which includes business process outsourcing (BPO), shipbuilding, mass housing, iron and steel and energy.

Infrastructure activities, together with research and development, green projects, motor vehicles, strategic projects which include projects that exhibit very high social economic returns that will contribute to the country’s economic development, hospital and medical services and disaster prevention, mitigation and recovery projects were also listed in the IPP preferred activities.

BOI Director Domingo I. Bagaporo said that their office is basically in charge of creating the industry roadmap for the investors, target investment promotions, negotiate trade investments, register eligible projects and facilitate investments.
Bagaporo also encouraged business partners to register their businesses at BOI to avail of the various incentives that their office is giving, one of which is the granting of tax holiday which would exempt the qualified businessmen for at least six years of not paying his business tax, among others.