The iron and steel industry and the hospitals and medical facilities industry are among the new options in the 2012-2013 investments priorities plan of the Board of Investments (BOI), according to its governor, Geronimo Sta. Ana.
During the road show at the Hotel Elizabeth on Sept. 6, Sta. Ana said the addition of the new industries will give investors in the country more options to choose from the improved investment climate of the country.
He said the Philippines is currently ranked 65 among 86 countries listed for investments. The improved government image and economy for the last two years have increased foreign investments here, Sta. Ana said during the presentation.
The addition of the new investment areas is in response to the resources available in the country.
Sta. Ana added the Philippines has great potential to host the investment areas not only through foreign investment but also in private-public partnership programs for local investors.
Department of Trade and Industry Regional Director Myrna Pablo said the Cordillera investment roadmap is open to all the areas of investments given its rich resources. She admitted the local governments and the national government agencies need to converge and define the investment priorities for the region.
There are more mayors and members of the legislative bodies who are interested in offering their areas for investments now and are paving the way to make it easier for investors to get the necessary business permits, Pablo said.
DTI Region 1 Director Florante Leal told the media in the same press conference there are already some 25 municipalities in his region who have drawn up their investment codes.
Leal said the investment code reduces the circuitous process of applying for business permits in these municipalities. The municipalities have also made up their own tax incentives for these future partners, he added.
Pablo said the BOI road show gives the local government a better picture of projects that can be studied for investments apart from those they are aware of. This is part of the development plan being pushed at the Regional Development Council meetings, she said.
Given the ideal climate and environment, Sta. Ana said Baguio may be host to the hospital and medical facilities industry that has been listed for 2012.