Martes, Pebrero 28, 2012

BOI identifies Phl’s three priority investment areas

The Board of Investments listed three priority investment areas that would help in creating jobs and improving the country’s economy. These are agribusiness, infrastructure, and tourism facilities and services.

The said areas reflect the government’s thrust of economic progress through investments that would generate millions of jobs to Filipinos.

Through the Public-Private Partnership (PPP), the synergy between government and private corporations could lead to mutual benefits, including improved economic status of Filipinos.

Accordingly, the three investment areas have been identified for their huge potential as economy boosters.

They said qualified lucrative projects under agribusiness include commercial production and processing of agricultural and fishery products including by-products and wastes, irrigation, post harvest, cold storage, blast freezing and the production of fertilizer. 

Also agribusiness is given special attention in the Autonomous Region of Muslim Mindanao (ARMM). New areas included the production of “halal” meat and foods, plantations and processing of industrial crops that include abaca, rubber, and biofuel like jathropa.

In the tourism facilities and services, investments will include the support of of transportation facilities that included airports, seaports, and cable car projects; the establishment and operations of hotels, theme parks, amusement parks, convention centers, health and wellness facilities, agri-tourism farms and facilities, and adventure parks; and development of retirement villages.

The infrastructure projects include those to be built under the public-private-partnership program of the government.

According to the BOI, to lure prospective investors, specific investments in the three areas will enjoy up to six years of income tax holidays after getting registered with the BOI this year.

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