BOI enjoins investors to promote their businesses

By Ana-Liza S. Macatangay

NAGA CITY, Oct. 17 (PIA) -- Incentives await business ventures once they register with Bureau of Investment (BOI)as part of the agency's promotional strategies on investment in the country.

the agency, under the Department of Trade and Industry (DTI), is mandated through the Omnibus Investments Code, to take a lead in promoting investment in the Philippines, Director Domingo I. Bagaporo of the BOI said during the 2012 Investment Roadshow held Friday at the Villa Cacered Hotel.

In a press conference in Camarines Sur, Bagaporo said that there are countless opportunities for growth for aspiring entrepreneurs and businessmen alike who would embark on their journey with the help of the BOI.

For one, they can avail themselves not just of the fiscal incentives but also of the non fiscal freebies and other perks which would be beneficial to their respective businesses.

“We are enjoining businessmen to register at BOI but they should see to it that their economic activities are listed under the preferred project in the current Investment priority plans of the government, “ Bagaporo added.

Listed as priority areas under the IPP are Agriculture or agribusiness and fishery, creative industries or knowledge-based services which includes business process outsourcing (BPO), shipbuilding, mass housing, iron and steel and energy.

Infrastructure activities, research and development, green projects, motor vehicles, strategic projects, hospital and medical services and disaster prevention, mitigation and recovery projects were also listed as priority investments that the government is pursuing this year.

Commercial production of crops planted in new areas, including poultry and livestock fall under the agriculture or agribusiness and fishery trade activities. Commercial processing of locally grown raw materials and animal and aqua feeds, services such as post harvest facilities, mechanized harvests , fertilizers and pesticides are also enumerated under the said category.

For creative industries or knowledge-based services, non-voice business process outsourcing BPOs listed now under export and IT enabled services with original content such as software development, animation , engineering design and game development are also activities that will qualify for the incentive.

Other activities which are not included on the list, can still avail of the incentives as long as 50 % of its production is marked for export for 60% Filipino-40% Foreign-owned enterprises or at least 70% of the production is marked for export, that is for more than 40% foreign–owned enterprises.

Bagaporo said that one of the best fiscal incentives that a business can enjoy is the Income Tax Holiday which is 6 years for both pioneer and non-pioneer enterprises. Aside from it, they can also avail of the reduced duty on importation of capital equipment, exemption from taxes and duties on imported spare parts, exemption from wharf dues and export tax, duty, Impost and Fees, among others. (MAL/LSM- PIA5/Camarines Sur)


Oct 17, a non-working holiday for Sorsogon

By Benilda A. Recebido

SORSOGON CITY, Oct 17 (PIA) – The province of Sorsogon will be turning 118 years today, October 17.

In observance of this, Sorsogon Governor Raul R. Lee issued Executive Order No. 012 series of 2012 declaring October 17as a special non-working holiday in the province and enjoining government officials and employees to actively participate in all activities of the Kasanggayahan Festival.

Kasanggayahan Festival is an annual festivity celebrated every month of October to symbolize Sorsogon’s establishment as a separate province of Albay. Sorsogon was formerly part of Albay that originally comprised the Bicol region historically known as Tierra de Ibalon.

It can be noted that Sorsogon became a separate province of Albay on October 17, 1894.

According to the EO issued by the governor, Republic Act 7380 says that a special holiday be observed on Oct 17 of every year in the entire province in commemoration of the establishment and founding anniversary of Sorsogon as a province.

RA 7380 was signed into law by then President Corazon C. Aquino on April 10, 1992.

“In compliance with the spirit and intent of the provisions of the said law, all national and local government officials and employees are hereby enjoined to observe, attend and participate in the closing ceremonies and activities of the Kasanggayahan Festival on Wednesday, Oct 17, 2012 starting at seven o’clock in the morning at the Capitol Grounds,” said the Executive Order.

Highlighting this year’s concluding activities of the Kasanggayahan Festival is the “Pantomina sa Tinampo”, known as a dance of love and courtship performed in the street.

Following the famous street dance is “Kaogmahan sa Kasanggayahan” (Kasanggayahan Bliss) where Pantomina revelers will partake of native delicacies.

In the evening will be the “Gab-I nin Kasanggayahan” (Kasanggayahan Night) where there will be display of fireworks and “Orgolyo San Sorsogon” or the Recognition of Outstanding Sorsoganons during the closing program. (MAL/BAR-PIA5/Sorsogon)