HITTING the ground running, Bohol Governor Erico Aristotle Aumentado sustained his steam in his personal crusade to create jobs and expand the industries here, leading to sealing a deal in investment promotion collaboration with the Board of Investments (BOI), February 22, 2023.
This as the BOI and Bohol, represented by the governor, signed a Memorandum of Understanding (MOU) formalizing the coordination and facilitation of investment promotions in Bohol and create environments conducive to the expansion of existing investments and attracting more capital to Bohol.
“Since day one to the present, the Administration has been keen in creating jobs, expanding industries and enticing investors to open up the economy after the pandemic onslaught,” said Governor Aumentado, whose efforts start to get traction in making Bohol attractive to investors.
With the document, Bohol and the BOI, which is an attached agency of the Department of Trade and Industry (DTI) commit to conduct joint investment promotion activities, trainings, info drives, roadshows, investment briefings with municipalities and the city.
The agreement also allows both parties to share investment guidelines, new ordinances, local incentives, rules and regulations governing issuances of business permits and cost of doing business , investment projects, priority areas of development and promotions, locations readied for occupancy, raw materials inventory, available government lands with special zoning classifications, dedicated focal persons and other information needed by investors, to make investment information available to both parties.
On the other hand, the DTI-BOI would collaborate with the Bohol Economic Development and Investment Promotions Office (BEDIPO) in implementation of investment promotion activities, provide technical consultations in LGU workshops leading to the operationalization of the BEDIPO as investment arms of the LGU.
On the other hand, DTI-BOI investment promotion service Executive Director Bobby Fondevilla thanked the governor for partnering with the BOI in engaging LGUs in investment promotions.
More than the Chocolate Hills and the Peanut kisses, Bohol is the Philippine provinces ideal for direct foreign investment areas, with the critical infrastructure in place.
He cited the Bohol Panglao International Airport as a key to attract multi-national investments, the growing local workforce with highly skilled talents and the proximity to rest and recreation areas as plus factors.
Bohol Chamber of Commerce and Industry and Bohol Information Technology Council representative Engr. Albert Uy also agreed that putting up the right infrastructure and skilled workforce has worked well for Bohol, which now has a strong business process outsourcing industry in a centralized location.
BOI has also acknowledged Bohol’s investment priorities that tread on sustainable environment as a strong magnet for green companies.
The DTI attached agency has picked Bohol as an ideal location for investors in light manufacture, agricultural production and information technology-business process outsourcing. (rahc/PIA-7/Bohol)
