Promoting RP to US Investors

Promoting U.S. Investment in R.P.

Manila Bulletin / Aug 3, 2010

Trade and Industry Secretary Gregory L. Domingo met with United States Ambassador Harry K. Thomas at the Board of Investments on July 29, 2010, to discuss more US investments and Philippine export. The Secretary outlined key initiatives of the Department on improving the country’s business environment, engaging with more partners in trade agreements, protecting consumers, and assisting viable SMEs.

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New BoI chief sets aggressive sales, marketing campaigns for investments
By BERNIE CAHILES-MAGKILAT

Manila Bulletin / August 3, 2010, 5:08pm

The Board of Investments (BoI) will embark on aggressive sales and marketing campaigns starting with the US and Japan this year to attract more foreign investors, particularly in the business process outsourcing and light industries sectors.

This was bared by newly installed DTI undersecretary for trade and investments Cristino L. Panlilio to reporters while on his way to his oath-taking ceremony in Malacañang on Tuesday.

The BoI is the government’s premier investment promotion agency. It administers the Investment Priorities Plan (IPP), an annual list of preferred economic areas that would be entitled to government incentive package such as income tax holiday, preferential duty on the importation of capital equipment, additional tax deduction on labor and training expenses, employment of foreign nationals, among others.

According to Panlilio, the first investment campaign salvo by the new administration would be in the U.S. in September this year in time for President Aquino’s visit to Washington.

 No. 3*08/04/10

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