The Board of Investment (BOI) said it will provide technical assistance to the Batangas government to improve the ease of doing business and expedite investment realization in the province.
Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo said that they will enhance their collaboration with the local government unit of Batangas to promote seamless cooperation and facilitate business operations.
To formalize this partnership, the BOI and the Provincial Government of Batangas signed a Memorandum of Agreement (MOA) focused on Investment Promotion and Facilitation on Aug. 12.
“With this signing of the MOA, the two parties will strengthen their partnership to ensure ease of doing business and quick realization of investments in Batangas province,” the BOI said in a statement on Thursday, Sept. 5.
Under the MOA, the BOI will offer technical assistance to Batangas by organizing educational programs and activities designed to enhance the capabilities of LGU frontliners in investment promotion and facilitation, as well as investor servicing.
BOI will also work in partnership with the Batangas provincial government to showcase the province as an attractive investment destination.
In exchange, BOI said Batangas will furnish BOI with all relevant information related to investment promotion, including details regarding land availability and the cost of doing business.
Additionally, Batangas will designate a green lane focal unit or point person to collaborate with BOI- One-Stop Action Center for Strategic Investments (OSACSI) in order to streamline the facilitation of strategic investments through the green lane.
Rodolfo said that Batangas Province offers the benefits of the 5Ps: "Power, Port, Place, People, and the Provincial Government," making it an appealing investment location in the country.
He also explained that the EO18 program for Green Lanes for Strategic Investments drew inspiration from the Mandanas Ruling.
In 2018, the Supreme Court ruled that LGUs are entitled to a share of national taxes, which is not limited to taxes collected by the Bureau of Internal Revenue but also includes collections such as customs duties by the Bureau of Customs.
Batangas Province has been a key driver of economic growth in CALABARZON, being identified as the region with the fastest-growing economy in both 2021 and 2022.
As a province categorized as first-class, Batangas plays a crucial role as a gateway for trade and investments due to its strong infrastructure, which includes the Batangas International Port.