“We should be very careful in handling investors,” he stated, as according to the World Bank, investors are looking for peace and order, infrastructure, policy, incentives that reduce the cost of doing business specifically the local incentives. “If the LGUs are not ready to host the investors, di po papasok si investor ,” he said while emphasizing that non-fiscal incentives are better in investment promotion, as fiscal ones are only “time-bound.” “The number one salesman is the local chief executive,” said De Vera, as the LGUs play a critical role in accommodating the investors. Playing the role of the lead investment promotion agencies, the BOI can assist in linking up the local government units (LGUs) to particular investors. De Vera Jr, Supervising Investments Specialist of the BOI’s Investments Assistance Service, underscoring the significance of aligning policies between the national government and the LGUs.
“Investment promotion is everybody’s business,” said Lubin R. "And more importantly, to learn promotional strategies that will help them boost the City’s competitiveness, which in turn help promote the City of Makati as an investment destination of choice, not only in the Philippines but in the world,” he added.Įxecutive Director Fondevilla also commended the technological improvement in Makati, especially its cash assistance distribution throughout the pandemic.
In the said two-day webinar, the BOI officials imparted to the Makati local government unit officials various ways to attract more investors, particularly by equipping its economic front liners and policymakers. With its highly developed infrastructures, world-class amenities, and innovative service delivery, Makati City became the preferred location of investors in the Philippines,” Executive Director Fondevilla said in his opening remarks. “Makati grew as one of the most progressive financial centers and commercial hubs in the Philippines. BOI Executive Director Bobby Fondevilla lauded Makati City for, in many years, it has retained its image as the financial center by championing “highly developed infrastructure” and public-private partnership.
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