The Board of Investments (BOI) is working with the Department of Interior and Local Government (DILG) in a bid to make municipalities more conducive for business.
In a statement, BOI said that it has signed a memorandum of agreement (MOA) with DILG on investment facilitation and promotion activities for local government units (LGU).
The MOA aims for a strong partnership between the two agencies through the conduct of investment awareness seminars and the facilitation of inquiries of BOI’s clients on LGU policies, programs and other concerns that are within DILG’s jurisdiction.
“The MOA is a welcome development as this undertaking further complements the agency’s various initiatives to strategically promote the country as an investment destination of choice and generate the much-needed employment for our countrymen,” said BOI Investments Assistance Center Executive Director Raul Angeles.
This comes amid government efforts to bring investments to the countryside, a move which the administration hopes would translate to inclusive growth.
BOI, for its part, has its own set of preferred businesses where companies are given incentives to do projects outside of Metro Manila.
Called the Investment Priorities Plan, this list provides fiscal and nonfiscal perks to 10 preferred business activities including mass housing, healthcare services such as drug rehabilitation centers, and manufacturing.
Under the MOA, BOI and DILG will conduct a forum for local economic and investment promotion officers (Leipos).
This aims to equip Leipos and other LGU officers with essential information that will help them take on important roles in making municipalities more conducive for investments and doing business, BOI said.
The MOA also seeks to provide prompt and accurate service to BOI clients by upholding inter-agency information sharing and coordination through available channels, including the use of the BOI-One Window Network (OWN) portal.
According to the official BOI website, the OWN is a cloud-based web portal and mobile application system that promotes full transparency and accountability on investment-related issues.
Through the portal, investors can easily track and monitor their concerns anytime and anywhere as they will receive e-mail or SMS notification for every action that will be undertaken by the designated account officers.