In an effort to enhance the awareness of investment promotion officers (IPOs) of Region III, the IPOs of Central Luzon’s six provinces underwent recently a four-day orientation at the Board of Investments (BOI) in Makati.
This was a move welcomed by Pampanga Governor Lilia G. Pineda who sent the province’s IPO Rommel M. Pineda to the said orientation as she said “it was a good opportunity for the province to gain more investments”.
Pineda attended the orientation along with the IPOs of the provinces of Aurora, Bataan, Nueva Ecija. Tarlac and Zambales while BOI officers acted as “shepherds” who led the IPOs in a comprehensive walk through of the various departments of the agency.
Pineda shared that the BOI is an attached agency of the Department of Trade and Industry (DTI) and is the lead agency responsible for the promotion of investments in the Philippines.
“It serves as a one-stop-shop and assists Filipino and foreign investors towards venturing and prospering in desirable areas of economic activities.”
The group members, according to Pineda, were assigned to the different departments of the BOI to familiarize themselves with the latter’s functions.
The International Marketing Department (IMD) designs and implements a strategic marketing program to reach international clients with huge investment potentials. It conducts inbound and outbound marketing programs to attract potential investors.
“The process starts with investment leads identification and ends with the conversion of the leads into actual business projects,” Pineda explained.
Another department, the National Economic Research and Business Assistance (NERBAC) offers frontline services for all kinds of investors such as provide counseling and information on how to do business in the country and serves as a one-stop processing center that assists investors in the pre-operating stages.
“It even accommodates walk-in clients and provides timely information to help them make sound decisions on business.”
The Project Assessment Group (PAG) provides professional and organized processing of investment applications and monitors registered firms using an enhanced database system.
This group, Pineda said, includes the Project Evaluation and Registration Department (PERD) which evaluates and registers that are listed as priority investment areas in the Investment Priorities Plan (IPP). It likewise evaluates and endorses applications of multi-national companies for license to establish/operate regional operating headquarters (ROHQ) or regional headquarters (RHQ) to the Securities and Exchange Commission (SEC).
At the Domestic Marketing Department (DMD), the participants were given a detailed orientation on the development and implementation of a region-based investment promotion program, the conduct of capability-building trainings/seminars on investment promotions for local government units (LGUs), domestic road shows, joint venture database/matching and participation in international fairs and exhibits.
Since marketing is a very important aspect in investment promotions, Pineda said the Strategy and Communications Department (SCD) prepares marketing and communications plans, promotion collaterals, press releases, advertising and advocacy campaigns. It also serves as the BOI spokesperson to respond to news releases and specific issues concerning the agency and particular industries.
Pineda and his group also learned about the BOI’s Incentives Department which processes applications and requests relative to incentives administration.
“It monitors the incentives availed of by registered firms, including its actual utilization. Some of these incentives are income tax holiday, duty-free importation of capital equipment, additional deduction for labor expenses, exemption from custom duties, zero VAT and other non-fiscal incentives.”
The last area that the IPOs went to is the Investment Aftercare Services Department (IASD) which provides after sales service to existing micro, small, medium and large investors. It also facilitates the resolution of investor issues and concerns, formulates and implements programs leading to retention, expansion and diversification of existing investments.
The Central Luzon IPOs came away from the orientation with a clearer view of the BOI functions and how this can be used to enhance the investment and promotion program of their respective provinces, Pineda declared.
The group also expressed that more trainings, particularly hands on activities and skills development be given by the BOI on a regular basis.
Our respective governors would be appreciative of any skills enhancement that IPOs could use to strengthen investments in the provinces, Pineda concluded. (Pampanga PIO)
