As micro and small enterprises (MSEs) are seen to drive the country’s inclusive economic growth, employment generation, and innovation, the Philippine Board of Investments (BOI) stepped up efforts to further boost the capabilities of Negosyo Center business counsellors in the country on investment promotions to cover image building, investment generation and investment facilitation and registration of Micro Small Enterprises (MSEs) projects with the agency.

Negosyo Centers, through its business counsellors, provide various assistance to MSEs including business name registration, market advisory and linkages, seminars and access to finance. By training the business counsellors on accurate investment information, promotion, and facilitation, MSEs who avail of assistance in the Negosyo Centers will be encouraged to consider registering their enterprises with the BOI.

Registered enterprises including MSEs can register their projects and avail applicable fiscal and non-fiscal incentives with the BOI as provided by Executive Order 226 or the Omnibus Investments Code.

Initially, the BOI, through its Domestic Investments Promotion Service (DIPS), recently conducted a two-day Capacity-Building Training (CBT) Program on Investments Promotion and Facilitation for the Negosyo Center Business Counsellors of Albay, Camarines Sur, Camarines Norte, Catanduanes, and Masbate and senior staff of the Department of Trade & Industry (DTI) Region 5 and some of the Provincial Offices under it.

BOI trained the Negosyo Center Business Counselors in providing basic information to potential investors including how to set up a business. BOI also trained the participants on the basics of undertaking investment promotion activities, making their areas viable to host investments.

BOI also provided the Negosyo Center business counselors with an extensive discussion in aligning the Region’s Investments Priority Areas with the national list or the Investments Priorities Plan and Region 5’s Development Plan. The priority areas for Region 5 include agribusiness, tourism, information and communication technology and manufacturing.

As the agency remains supportive of the growth of MSEs in the country, the BOI through its Board, approved in November 2016 a resolution delegating the some of its ministerial functions and operations to the BOI Management Committee including the processing and approval of applications for registration projects with the agency in the sectors of agriculture, services, tourism, and manufacturing with a project cost of Php15 million and below.

Approved and signed by Trade Undersecretary for Industry Development and BOI Managing Ceferino Rodolfo through Office Order No. 2016-020, the move is expected to further expedite the processing of investment registration applications with the agency specifically the MSEs. The Office Order is effective starting November 02, 2016.

“By further speeding up our investment registration application processes, we encourage micro and small businesses to be more competitive and more active in participating in global value chains,” Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said.

BOI is set to conduct more CBTs in key regions and provinces in the country where Negosyo Centers are located.