THE Board of Investments (BoI) has forged a partnership with the Management Association of the Philippines (MAP) to intensify the promotion of the Philippines as an ideal investment destination for global businesses.
Taking off from a productive meeting with MAP led by its newly elected president, lawyer Benedicta Du-Baladad on Jan. 18, 2023, Trade Undersecretary and BoI managing head Ceferino Rodolfo said the association's commitment to collaborate with the agency on potential investment promotion activities and projects is a very welcome development.
'The BoI has always encouraged a close working relationship with the private sector in the implementation of its investments promotion efforts, knowing fully well that the private sector's expertise, initiatives and networks within the business community will help the country generate more investments,' Rodolfo stated. 'MAP is held in high regard for supporting many government initiatives in achieving and sustaining a dynamic and inclusive economic growth of the country.'
Under the partnership, the BoI, through its Investments Promotion Services Team led by Executive Director Evariste Cagatan, will invite MAP to participate in its various investment promotion activities and missions lined up for this year.
The BoI team will also handle the investors referred by MAP, helping them with their investment-related concerns.
During the meeting, Du-Baladad said the association will include as part of the program in its upcoming MAP Congress on Blueprint for Shared Prosperity, a briefing on the investment climate in the country, and the advantages and opportunities for investors.
Adopting the association's 2023 theme 'Bridging and Linking,' Du-Baladad also offered to help the BoI in threshing out tax-related concerns of investors including those with expansion plans in the Philippines.
She shared with the BoI copies of tax-related publications such as Digital Tax Watch Philippines and Foreign Investments Watch, all of which are useful for the BoI for advising its investor-clients on tax insights, advisories and other tax-related content.