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In the world of Philippine governmentrelated acronyms, there are those which have been ingrained deep in our consciousness that they need no expanding nor explaining: DOT, DOH, BIR, even the DOST and DepEd. There are a few, however, which remain unfamiliar to many, sometimes even causing confusion.
One of these few is the BOI—wait there is a BOI? What is the BOI anyway? Does the ‘B’ stand for “bureau?”
The BOI or the Board of Investments (BOI) has been around for 56 years. And as it celebrates over fi ve decades of unwavering commitment to nationbuilding, let’s get to know more about this often-misunderstood investment promotion agency, from its mandate and some of its most recent signifi cant milestones.
BOI 101
In a nutshell, the BOI, an attached agency of the Department of Trade and Industry (DTI), aims to help the Philippine government promote inbound investments and economic growth by attracting investors and entrepreneurs to venture and set up businesses in the country. It is an investment promotion agency that grants tax incentive packages to local and foreign businesses operating in the Philippines.
As the BOI continues to fulfill its mandate to promote investments and the development of competitive industries, it also helps create employment, helping many Filipinos lead better lives and look forward to a brighter future.
Carrying the theme “Growing beyond, by going beyond,” the BOI remains steadfast, as it has always been for almost six decades, in its goal to fast-track the country’s transformation into a prime investments destination and make more opportunities happen.
PH’S LEAD INDUSTRY DEVELOPMENT AND INVESTMENTS PROMOTION AGENCY
This story is from the September 25, 2023 edition of The Philippine Star.
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This story is from the September 25, 2023 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
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