Investments registered with BOI doubles in first sem of 2016, reaches P186.51B vs. P92B in 2015

Investments registered with the Philippine Board of Investments (BOI) doubled in the first six months of 2016, reaching P186.51 Billion, or higher by 103% from the P92.02 billion posted in the same period last year.

Infographics BOI Approved Investments JantoJune 2016 copyAs the numbers already cover May and June, the growth is indicative of continued investor confidence as the country transitions to the Administration of President Rodrigo Duterte. “Sustained impressive investment performance validates the announced economic policy direction of the new administration” said Trade Secretary Ramon Lopez. BOI-approved investments in June 2016 grew by 254% compared with same month of the previous year. Secretary Lopez further said, “The challenge is ensuring that these investments benefit the poorest of the poor. The administration will be embarking on measures to make investments more inclusive through, among others, providing linkages with Micro, Small and Medium Enterprises (MSMEs), to the agricultural sector, and to the marginalized geographic regions.”

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Game Development Philippines eyes to corner sizeable portion of $18.4-B European games industry market, to participate at GAMESCOM 2016 in Germany

The Philippines is stepping up efforts in carving a sizeable niche of the estimated US$18.4 billion European games industry market and in further promoting the country as an investment destination of choice in the games-related services sector for international game development companies as the country’s industry players are set to participate at the GAMESCOM 2016 in Cologne, Germany next month.

Showcasing their games-related services and products to international companies at GAMESCOM include Altitude Games, GameOps Inc., Job and Esther Technologies, Inc., Synergy88 Digital Inc., Transcom, and Zeenoh.

The industry players’ participation in the international event is organized by the Philippine Board of Investments (BOI) through its International Investments Promotion Service jointly with the Philippine Trade and Investment Center in Berlin and the Games Development Association of the Philippines (GDAP).

Slated on August 17 to 21, Gamescom is Europe’s largest platform for the European computer and video game industry. It is organized by the Federal Association of Interactive Entertainment Software, bringing together developers, publishers and other stakeholders to showcase their upcoming games and game-related hardware and to promote business and collaboration. Measured by exhibition space and number of visitors, last year’s edition gathered over 345,000 visitors and 700 exhibitors from 88 countries.

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BOI awards registration certificate to Mitsubishi under CARS Program

BOI awards registration certificate to Mitsubishi under CARS Program

BOI awards registration certificate to Mitsubishi under CARS Program. The Philippine Board of Investments (BoI) awarded today (June 15) the certificate of registration to Mitsubishi Motors Philippines Corporation for the production of 200,000 units of its Mirage/Mirage G4 model under the Comprehensive Automotive Resurgence Strategy (CARS) Program. The CARS Program is anchored on the resurgence of the automotive industry and in priming the country as a regional car manufacturing hub. Signed into law by President Aquino in May 2015 through Executive Order No. 182, the program provides successful car manufacturing company applicants fiscal support for their investments in the manufacture of body shell, large plastic parts, and other strategic parts that are not currently produced locally, and provides variable incentives to induce both volume production and logistics efficiency. Once the 3 Participating Car Makers (PCM) slots are subscribed, and the projects are fully implemented, the 6-year CARS Program is expected to draw P 27 Billion in fresh investments, manufacture 600 thousand more vehicles, add P 300 Billion to the domestic economy – equivalent to 1.7% of GDP – and generate up to 200 thousand direct and indirect jobs in auto manufacturing, parts making, distribution and ancillary services. Photo shows BoI Governor Henry Co (third from left) handing the certificate of registration to Mitsubishi Motors Philippines President and Chief Executive Officer Yoshiaki Kato (second from right). Trade Secretary Adrian Cristobal Jr. (third from right) witnessed the awarding of the certificate. They are joined by (from left to right): Trade Assistant Secretary Rafaelita Aldaba, BoI Governor Lucita Reyes, and Mitsubishi Motors Philippines Executive Vice President Shigeru Ogura.
(Photo by Little Wing Luna/DTI)

BOI passes compliance stage at PGS Revalida, bags Silver Governance Trailblazer Award

The Philippine Board of Investments (BOI) successfully passed the Compliance Stage of the Performance Governance System (PGS) during a Public Revalida at Bayanihan Center in Pasig City on Friday (June 10, 2016).

BOI was also conferred the Silver Governance Trailblazer Award by the Institute for Solidarity in Asia (ISA) and Center for International Professional Experience (CIPE) for garnering a high score of 8.9 out of 10 during the Revalida having convincingly shown BOI’s embrace of the principles of good governance even at the individual level resulting in the agency’s reaping substantive early gains including its breakthrough goals such as the successful implementation of the Manufacturing Resurgence Program and the 4.11 percent increase in the share of the manufacturing sector to the total gross domestic product (GDP).

Trade Undersecretary and BOI Managing Head Ceferino Rodolfo together with Assistant Secretary Fe Agoncillo-Reyes, and BOI Executive Directors Ma. Corazon Halili-Dichosa and Efren Leano presented the BOI’s PGS initiatives before a panel of governance experts headed by Rex Drilon of ISA, Fe Barin of the Institute of Corporate Directors, Greg Navarro of Navarro Amper & Company, Tomasa Lipana of Isla Lipana Foundation, and Peter Angelo Perfecto of Makati Business Club.

IMG_9628Trade Undersecretary and BOI Managing Head Ceferino Rodolfo explaining to the PGS Revalida panelists how the agency’s vision of becoming a Global Investment Promotion Agency by 2020 is aligned with its various industry and investment stakeholders.

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Philippines, India renew trade and investments ties

The Philippines recently held discussions with India to forge closer cooperation and strengthen the two countries’ trade and investment relations.

At the 12th Meeting of the Joint Working Group on Trade and Investments (JWGTI) held in New Delhi, India, Philippine Board of Investments (BOI) Governor Lucita P. Reyes discussed areas of cooperation including bilateral cooperation initiatives and issues involving trade, investments, and improved market access for both countries.

Reyes led an 11-strong delegation from Manila that included representatives from the Philippine International Trading Corporation (PTIC), variousgovernment agencies such as the Department of Trade and Industry (DTI),and the Philippine Embassy in New Delhi. Meanwhile, Mr. Ravi Capoor, Joint Secretary of the Department of Commerce of India led a twenty-member delegation of officials representing different officers of the Ministry of Commerce and Industry.

The meeting identified areas of cooperation in coconut(production, processing and commercialization), rice, customs, Science and Technology, Information Communication Technology (ICT), pharmaceuticals, micro, small, and medium enterprises (MSME) development, and higher education. Both countries also pledged to jointly develop a mechanism for sharing statistical data and to fast-track the development, signing, and implementation ofpending Memoranda of Understanding between the Philippines and India.

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