BOI, Batangas LGU signs agreement on investment promotion, facilitation

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The Board of Investment (BOI) on Thursday said it signed a memorandum of agreement with the provincial government of Batangas to cooperate on investment promotion and facilitation activities.

The BOI said that its managing head, trade undersecretary Ceferino Rodolfo and Batangas Governor Hermilando Mandanas signed the agreement at the Batangas provincial capitol last August 12.

“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,” the lead investment promotion agency of the Department of Trade and Industry said in a statement.

READ: P3.2T worth of investments now under govt’s green lane program

Under the MOA, the BOI said it will provide technical assistance to Batangas LGU officials including organizing learning programs and activities to capacitate LGU frontliners on investment promotion and facilitation and investor servicing.

The BOI said it will also collaborate with the Batangas provincial government to promote the province as a prime investment destination.

In return, the BOI said the Batangas LGU will them with all necessary information relevant to investment promotion, such as land availability and the cost of doing business.

Additionally, the Batangas LGU is expected to appoint a designated green lane focal unit or person to coordinate with BOI’s One-Stop Action Center for Strategic Investments for facilitating strategic investments through the government’s green lane program.

The green lane for strategic investments program is meant to expedite, streamline, and automate government approval and registration processes for investments deemed as a priority or strategic.

The government launched the green lane program back in February 2023 under Executive Order No. 18 which was issued in the same month.

The BOI highlighted the economic potential of the province of Batangas, noting that it has been one of the top economic drivers in Calabarzon (Cavite, Batangas, Laguna, Rizal, Quezon) and is reported as the region’s fastest-growing economy in 2021 and 2022.

The BOI said it also sees it as a vital gateway for trade and investments because of its robust infrastructure, including the Batangas International Port.

It also noted that the province has at lea 16 economic zones and industrial parks housing over 849 locator companies in various sectors, including tourism, agriculture, infrastructure, and renewable energy.