Global roadshow set to promote Create More

THE government is ramping up efforts to attract foreign investments via a global roadshow promoting the benefits of the recently approved Create More Act, the Board of Investments said on Monday.

The initiative follows last year’s record P1.9 trillion in investment approvals, which the BOI said was an indication of strong investor confidence in the Philippines.

The government is pushing for a stronger interagency collaboration and global investor engagement to ensure continued growth in investments.

The roadshow will include stops in key markets such as South Korea, the United States, Japan, Europe, the Middle East and China, targeting high-value industries and multinational investors.

Frederick Go, the Special Assistant to the President for Investment and Economic Affairs, led a high-level meeting with 19 investment promotion agencies last Feb. 21 in preparation for the roadshow.

“Discussions during the meeting included ways on improving investor services and fostering efficient inter-IPA coordination to create a seamless investment experience for both domestic and international investors,” the BOI said.

Go was said to have emphasized Create More’s role in reducing business costs, attracting high-value investments and generating quality jobs.

He also urged IPAs to aggressively market the law’s enhanced tax incentives, which aim to position the Philippines as a more competitive investment destination.

For his part, Trade Undersecretary and BOI managing head Ceferino Rodolfo outlined the government’s priority sectors for foreign investment.

These include renewable energy, telecommunications infrastructure, innovation-driven light manufacturing and tech-enabled agriculture. Projects in these areas were said to essential for modernizing the economy and driving long-term structural transformation.

The Create More roadshow is expected to showcase improvements in the country’s investment climate, particularly with regard to the ease of doing business and tax incentives.

In a related development, the BOI also said that it was advancing strategic partnerships for critical minerals development via its participation during last week’s Prospectors and Developers Association of Canada convention in Toronto.

BOI Executive Director Ma. Corazón Halili-Dichosa led the Philippine delegation and engaged with international mining and processing leaders to explore opportunities in the country.

“Considering that we have 9 million hectares with mineral potential and only less than 3 percent have mining permits, we still have lots of areas that can be explored,” Dichosa said.

“The government is determined to tap the high potential of our mineral resources and have it contribute more to our economic development,” she added.