The Board of Investments (BOI) will establish Green Lanes for Strategic Investments in the 20 municipalities and four cities of Bulacan.
This is part of the agreement the agency signed with the provincial government to further intensify and expand the granting of investment incentives.
BOI Executive Director Bobby Fondevilla said Executive Order No. 18 of President Ferdinand R. Marcos Jr. mandated all government offices, including local government units, to further streamline processes and requirements in opening a business.
“Our agreement with the provincial government of Bulacan reaffirmed that any amount of investment; be it from Barangay Micro, Small and Medium Enterprises to big-ticket ones, can avail incentives from BOI and a particular local government,” he explained.
BOI wants to fully utilize the granting of output-based, targeted, time-bound and transparent investment incentives under Republic Act 11534, otherwise known as the Corporate Recovery and Tax Incentives for Enterprises Law. It includes the granting of lower corporate income tax.
To ensure seamless implementation of the agreement, BOI Investments Assistance Center personnel will assist enterprises in the submission and follow-up of applications for business permits and licenses.
At the same time, a One-Stop Shop Action Center for Strategic Investments will be established in Bulacan to address investors’ concerns starting from pre-project establishment up to post-investment assistance.
“It will facilitate and expedite to the extent possible, the setting up and conduct of registered investment projects and other pre-investment concerns in accordance with Republic Act 11032, otherwise known as the Ease of Doing Business and Efficient Government Service Delivery Act,” he added.
Meanwhile, Governor Daniel Fernando hailed the signing of the agreement that will bring Bulacan to greater heights as an emerging economic and financial hub.
“Even if we became the eight most competitive province in 2023, from number 49 in 2018, there is still so much that needs to be done,” he pressed during the signing of the agreement which coincided with the relaunching of the Invest Bulacan PLUS program.
Trade and Industry Undersecretary and BOI Managing Head Ceferino Rodolfo, on the other hand, commended the province for being aggressive in attracting local and foreign investors.
“Your relaunch of Invest Bulacan PLUS; which means promote, leverage, upscale and synergize; will ensure smart and sustainable investments. This initiative is timely and in line with the Marcos administration’s positioning strategy to transform the Philippine economy into a regional hub for smart and sustainable manufacturing and services,” the official noted.
The province targets investments in electric vehicles, smart and high-tech light manufacturing, outsourced semiconductor assembly and test, green metals, high-tech agriculture, renewable energy, data centers and telecommunication infrastructure. (PIA 3)
