BOI urges CV investors to take part in roadshow

CEBU, Philippines - The Board of Investments (BOI) is encouraging existing and prospective investors in Central Visayas to participate in the roadshow that the BOI will conduct by the end of the month.

BOI Governor Geronimo Sta. Ana said in an interview with The Freeman that the BOI is conducting a roadshow, which commenced last Thursday in Pangasinan to discuss about the new investment priority plan (IPP), which was approved by former president, now Pampanga Representative Gloria Macapagal-Arroyo, and to be implemented this year.

“We want to inform investors of the new and very interesting incentives included in the newly-approved IPP,” he said.

The Central Visayas-leg will be held in Cebu by the end of August while another one will also be held in Bacolod . BOI will also do presentations in other key areas in the Visayas and Mindanao such as Davao and Cagayan de Oro.

Sta. Ana said that some of the new and “interesting” additions to the IPP include incentives to products related to disaster-related calamity such as those for preventive control and assistance; renewable energy and green projects.

The BOI has invited representatives from the Department of Trade and Industry (DTI) 7 to join the event and register small and medium enterprises during the event.

“This will be their chance to register with the DTI,” he said.

Sta. Ana earlier urged firms in Cebu to register and avail themselves of incentives in the 2009 IPP, saying not many firms in Cebu had registered with the BOI since it took effect in May 2009.

Initially, the BOI is looking at limiting the incentives to power generator sets importation for Mindanao use to direct industrial users only while rehabilitation of old power plants must be required to submit an environmental compliance certificate to avail of the incentive, according to a report.

Importation of power generation sets for Mindanao, which is now experiencing between 8 to 12 hours a day of power outages, and the rehabilitation of old power plants are eligible for zero-duty privilege under the Disaster Prevention, Mitigation and Recovery Projects listing, a new provision in the 2010 IPP.

According to the BOI, the zero-duty importation privilege for power generation sets for Mindanao would be credited only to the industrial firm that would register with the BOI. This is meant to ensure that the one that gets the incentives is an industrial user and not a trader. – (THE FREEMAN)