CEBU, Philippines - The Board of Investments (BoI) of Department of Trade and Industry (DTI) is inviting proponents of big-ticket investment projects in Cebu that are looking for investors, partners or funders to apply for inclusion in the Philippines InvestMart Roadshow scheduled this November 2012.
DTI announced that the InvestMart program aims to proactively sell the array of investment projects in the regions while tapping the participation of domestic investors, either as partners or funders.
The InvestMart will focus on the following priority sectors: Agribusiness, Knowledge Process Outsourcing (KPO), tourism, green projects, LGU-based PPP projects.
Requirements for nomination to the InvestMart roadshow are as follows---Projects should be covered by pre-feasibility study or complete project profile based on the InvestMart project template ( forms are available at the BOI-Cebu and DTI-Cebu offices); Project cost must have a minimum amount of P100 million; Sectors should be on Agribusiness, KPO (Knowledge Process Outsourcing), Tourism, Green Projects or LGU-based PPP (Private-Public Partnership) Projects, and projects should support the National Investment Strategy, as indicated in the latest Investment Priorities Plan (IPP) posted at the BOI website [www.boi.gov.ph], and the Central Visayas Medium-Term Regional Development Plan 2011-2016 posted at the NEDA-Region 7 website [www.neda7.net.ph].
All projects shall be subject for review by the BOI. Deadline for the submission of project application documents to the BOI-Cebu is on June 08, 2012.
The Cebu Investment Assistance Network is an inter-agency group that aims to enhance the business and investment climate in Cebu through inter-agency networking for investments promotion and front-line investment facilitation.
Earlier, DTI secretary Gregory Domingo said that because of the promising signs for bullish and economic dynamism in the Philippines, foreign investors are making their trips to the Philippines to look for investment opportunities here.
Likewise, local investors are also looking for good projects across the country to take advantage of the vibrant economy.
The National Economic and Development Authority (NEDA) projected a GDP growth of between five to six percent this year, as well as the Bangko Sentral Ng Pilipinas (BSP). However, the trade chief said that while he sees the ground movement of inflows he is confident that the country will hit one of the highest growth in GDP in the last few years. It could hit seven percent.
For the last 12 months, he said investors are now looking at the Philippines, due to the increasing wages in the coastal areas in China, or in the southern most part.
“We are cheaper [in terms of wage] than Southern most part of China,” Domingo said.
Today, investors are making Philippines and Indonesia as alternative investment destinations, Domingo said.
In fact, he said inbound trade missions are coming in, adding that the international investment community is showing stronger confidence in the Philippines. Trade missions from countries like China, Turkey, Russia, Qatar, Iran, and Japan are flowing.
Big names in the manufacturing sector in Japan like Toshiba, Toyota, Mitsubishi, among have already expressed interest to set up plants in the Philippines. These are just few of the examples why the Philippines is seen to experience an economic boost this year.
The Philippine Economic Zone Authority (PEZA), he said will be announcing series of projects, and new investors’ opening this year. “There are serious players that will be announced by PEZA in the next few months.”
“A lot of money is coming in at least in the next two years,” he said.
The number one indication for good economic health, is the country’s stock exchange, of which it hit its highest index level 21 times in the last 21 months.
With the promising economic movement in the Philippines, Domingo, said Cebu will play a vital role and will benefit on the strong confidence of the international investment community.
“There are much to look forward to this year and the coming years,” said Domingo. - THE FREEMAN