The Department of Trade and Industry – Region 02 (DTI R02) has always been unrelenting in its efforts to promote the country’s investment priority areas by assisting local government units (LGUs) in improving and promoting their place as premier investment destinations. And, with global reports affirming the positive investment flow in the country, huge opportunities are now waiting to be tapped. This development necessitates proactive actions from government enablers to undertake a cohesive approach in investment promotion.
It is for these reasons that DTI R02 conducted an “Orientation on Board of Investments (BOI) Incentives and Registration cum Investment Consultation and Meeting” on 19 June 2019 at the Regional Negosyo Center, Carig Sur, Tuguegarao City, Cagayan. It was attended by ten (10) local investors and prospective BOI registrants as well as over thirty Local Economic and Investments Promotion Officers (LEIPOs) and LGU representatives of growth areas.
Senior Investments Specialist Luna Gracia Panesa – Ahmad from the BOI, presented the 2017 – 2019 Investments Priorities Plan (IPP) and explained the available incentives for prospective investors under the IPP. She also encouraged local government units through the LEIPOs present to heighten their awareness on investment promotion policies so that they can help potential investors who may be interested in their locality. One of the critical areas she mentioned was the availability of data such as the costs of doing business for investors from the LGUs.
“Investment is central to growth and sustainable development because it expands an economy’s productive capacity and drives job creation and income growth,” said Randolph Cacacho, Supervising Trade and Industry Development Specialist in his welcome remarks. “DTI strives to promote the development of homegrown industries ready for joint venture with local and foreign partners and the local government units and the business sector are our partners in this endeavor,” he added.