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Ms. LILLIAN C. COTAZ Resource-Based Industries Department Board of Investments 10 May 2013

Regional Workshop on Enhancing Farmers’ Market Power Workshop. Ms. LILLIAN C. COTAZ Resource-Based Industries Department Board of Investments 10 May 2013 Sulo Riviera Hotel, Quezon City. Board of Investments. An attached agency of the Department of Trade and Industry

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Ms. LILLIAN C. COTAZ Resource-Based Industries Department Board of Investments 10 May 2013

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  1. Regional Workshop on Enhancing Farmers’ Market Power Workshop Ms. LILLIAN C. COTAZ Resource-Based Industries Department Board of Investments 10 May 2013 Sulo Riviera Hotel, Quezon City

  2. Board of Investments • An attached agency of the Department of Trade and Industry • Promote investments in preferred areas as identified in the annual Investments Priorities Plan (IPP) • Administer incentives: • Fiscal • Non-fiscal

  3. 2012 Investment Priorities Plan Agriculture/Agribusiness and Fishery • Commercial Production • Commercial Processing Services in Support of Agriculture / Agribusiness and Fishery • Irrigation • Harvesting Services • Post Harvesting Services

  4. Agribusiness

  5. Incentives Board of Investments • income tax holiday (ITH) • exemption from wharfage dues and export tax, duty, impost and fees • tax exemption on breeding stocks and genetic materials • employment of foreign nationals • Simplification of customs procedures • Duty exemption on imported capital equipment, spare parts and accessories • Tax credits on imported raw materials • Tax and duty free importation of consigned equipment • Additional deduction from labor expense • Access to bonded manufacturing warehouse

  6. Foreign Investments • Foreign Investments Act – R.A. 7042 • Foreign Investment Act of 1991 • basic law governing foreign investments in the Philippines • liberalized the entry of foreign investments in the country • Key Features of FIA • concept of negative list • opened domestic market to 100% foreign investment except those in the Foreign Investment Negative List (FINL) • allowed 100% foreign ownership of business activities outside FINL but WITHOUT incentives

  7. Foreign Investments Foreign Investment Negative Lists • List A - areas of activities reserved to Philippine nationals where foreign equity participation in any domestic or export enterprise engaged in any activity listed therein (limited to a maximum of 40%) • List B - areas of activities where foreign ownership is limited pursuant to law such as defense or law enforcement-related activities, which have negative implications on public health and morals, and small and medium-scale enterprises.

  8. Registration Qualifications for BOI Registration • Entity organized under Philippine laws at least 60% Filipino owned • If not Filipino: • proposes to engage in Pioneer project for domestic-oriented projects • Commits to export at least 70% of production/ manufacturing revenues • Activity must be listed in the Investments Priorities Plan

  9. Registration BOIResource-Based Industries Department 385 Sen. Gil Puyat Ave. Makati City Tel. (+632) 895-3977 Fax (+632) 896-8453

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