Wednesday, 8 September 2010

Investors' confidence in RP bullish – BOI

Manila Bulletin

BACOLOD CITY, Negros Occidental (3 September) – The Board of Investments (BOI), an attached agency of the Department of Trade and Industry, recently bared that investors' confidence is high and bullish in the country and that the BOI is matching this enthusiasm with tax grants and fiscal incentives to investors.

This was revealed by Lucita Reyes, Executive Director of the BOI-Project Assessment Group during an orientation-seminar focused on the 2010 Investment Priorities Plan (IPP) held in Bacolod City’s L’Fisher Hotel last week. Said orientation-seminar was attended by stakeholders from different sectors in the Western Visayas region.

In the same event, Reyes disclosed that for the period covering January to July this year, investment approvals by BOI and the Philippine Economic Zone Authority (PEZA) has reached a total of P240 billion so far, compared to the some P100 billion gained during the same period last year.

Both BOI and PEZA is targeting at least P450 billion in investment approval this year.

Reyes is confident the target can be reached since the BOI, as of this time, has already P111-billion worth of projects lined up for check listing.

BOI Governor Francisco Ferrer said the role of BOI is to mobilize savings toward direct investments in the hope of moving the country forward.

"It is the program of Government to disperse industries in the country and not just in Metro Manila," Ferrer told the Western Visayas stakeholders during the orientation.

Reyes, meanwhile, also presented during said orientation, BOI’s 10 themes for 2010, covering different industry sector groupings namely, The Olympian, The Heavy Lifters, Green Entrepreneurs, New Kids on the Block, Homeland Security, Globe Trotters X (Exporters), Social Rate of Return, Responsible Corporation, Bias for the Little Guy and The New BOI.

The Olympian include power industries which are tourism, business process outsourcing, electronics, and mining. Under Heavy Lifters are investments in energy, physical infrastructure, logistics and the downstream oil industry. Green Entrepreneurs cover investments in green projects, waste management facilities, industrial forests, and renewable energy.

The New Kids on the Block refers to ventures involving industries that address calamities and disasters, creative industry and knowledge services.

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