BOI approves 2 new projects worth P500M

The Board of Investments (BOI) has approved two projects with a combined cost of almost P500 million.

Go Green Adventure Tours Inc., a 100-percent Filipino owned company invested P250 million in a project that will promote ecologically friendly locations and facilities for both local and foreign tourists.

The newly formed corporation was given tax incentives as it falls under the tourism category of the government’s Investment Priorities Program (IPP).

The firm will be operating a beach resort in Nasugbu, Batangas. Because the resort will have no accommodation rooms, Go Green has forged tie ups with the owners of resort hotels surrounding the new development.

Go Green will promote the natural scenery and environment of Nasugbu and adjacent municipalities for tourism activities without destroying the natural environment and resources.

The tour will provide outdoor ecological and extreme adventures such as sky diving, deep sea diving, wind surfing, snorkeling and mountain treks among others.

The resort is scheduled to start commercial operations next month.

Software developer Electronic Network Cash Tellers (ENCASH) Inc. will be investing P224 million for the development of an application software/system for rural banks.

The firm’s present project will provide rural banks with a world class IT enabled service through the use of modern and advanced banking software application dubbed as SAVANT.

SAVANT is a combination of the latest hardware and software technology to provide their client with the proper, secure, high-quality and flexible ATM service.

The technology will provide a centralized, multi-branch, web-based, on line system with account balance updates performed real time.

Because it is web-based, the software eliminates the need for expensive communications services.

The entire system is compliant to the International Accounting Standards (IAS).

At full capacity, the project will generate employment for over 100 individuals.