The Department of Trade and Industry and the Board of Investments have lined up activities and capacity building programs that are designed to promote and generate local investment.
“To complement our efforts to attract foreign investors, we will continue to make parallel efforts to boost domestic investments,” DTI undersecretary Cristino Panlilio said yesterday.
Panlilio said one of those activities lined up to promote local investment is the holding of the global investment conference and exhibition or INVESTMART slated this year.
“In preparation for this flagship project, we have enhanced INVESTMART’s concept paper and negotiated for partnership with a leading industry association. We have also worked with industry players and associations in identifying potential investment areas and sectors for promotion such as the public private partnership, pharmaceuticals, electronics, copper, and auto parts and components,” Panlilio added.
He said that the DTI has also recently partnered with the Department of Interior and Local Government to ensure that local governments nationwide have business environments that are conducive to investments.
The two departments recently signed a joint memorandum circular on the formulation of a Local Investment and Incentives Code.*PNA