The Board of Investments (BOI) has set a fighting target to overtake Vietnam in terms of foreign direct investment (FDI) inflows by 2024 and Indonesia by 2026, around midterm of President Ferdinand Marcos Jr.’s administration. During a panel at the 2022 National Exports Congress on Wednesday,...
The Board of Investments (BOI) is looking at asking the two participants of the incentive-driven Comprehensive Automotive Resurgence Strategy (CARS) program to assemble another model or offer a value addition in exchange for the grant of their request to extend the six-year program. BOI Managing...
Project registration with the Board of Investments (BOI) this year is expected to surpass the P655 billion 2021 level, but may fall short of meeting its P1-trillion target set for the year as investments decisions have been derailed by the eruption of the Russian-Ukraine war. As of Nov. 15 this...
More than 500 enterprises registered with the Board of Investments (BOI) are facing cancellation of their certificates of registration for failure to submit annual financial and actual operations reports. A notice by the BOI published in a newspaper of general circulation requires the identified...
The Fiscal Incentives Review Board (FIRB) is supporting the proposal on the Strategic Investment Priority Plan (SIPP) by the Board of Investments (BOI), an attached agency of the Department of Trade and Industry (DTI). The SIPP will serve as the primary basis for determining which projects or...
The Department of Energy (DOE) will be issuing guidelines on the availment of incentives with the Board of Investments (BOI) for qualified energy efficiency (EE) projects. ‘ The department has issued a draft Circular that will be the basis on its solicitation of inputs and comments from relevant...
The Department of Finance (DOF) has tossed to the Board of Investments (BOI) the need to review the re-classification of the tax incentives being granted to energy efficiency (EE) projects under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. In a letter-response to the...
Start-up renewable energy (RE) firm Matuno River Development Corporation (MRDC) is advancing on to the commercial operation of its 8-megawatt hydroelectric power generating facility before the end of this year. The company announced that the run-of-river power project, which is sited in Bambang,...
Participants and domestic autoparts manufacturers in the Comprehensive Automotive Resurgence Strategy (CARS) program expect to receive an estimated P2.6 billion in fiscal tax incentive claims. Ferdinand Raquelsantos, president of the Philippine Parts Makers Association (PPMA), said that of the...
Chinese firms are investing in electric vehicle assembly, telecoms and steel manufacturing projects in the Philippines, while Filipino investors in China are also coming back and reinvesting in the country. Board of Investments (BOI) Managing Head Ceferino S. Rodolfo said this during the virtual...
The Board of Investments (BOI) has approved the application of OIKOS Sustainable Solutions Inc.(OIKOS) as new producer of environment friendly hidrobags under the newly-enacted Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. The project has qualified for incentives because its...
The Philippines will be prioritizing 7 sectors in the Philippines Skills Framework (PSF), an inter-agency initiative to build the skills and competencies of the country’s human capital and better prepare them for the work of the future as 48 percent of current jobs could be displaced by...
