BOI pushes stronger support for local investors with growing NorMin economy

TheMonitorMindanaoToday.com | BOI pushes stronger support for local investors with growing NorMin economy 

By: Gabriel D. Andres

CAGAYAN DE ORO CITY — The Philippine Board of Investments (BOI) called for stronger coordination and implementation of national investment policies at the local level, to ensure faster facilitation for investors and wider access to government programs and incentives as Northern Mindanao’s economy continues to expand.

On October 28, the BOI, in partnership with the Cagayan de Oro City Government, held the BOI-Awareness Seminar to Strengthen the Investors and Stakeholders (BOI-ASSIST). The event aimed to update the local business community and stakeholders on investment policies and opportunities to access BOI services and support mechanisms.

Also, there were discussions on the BOI’s ease of doing business programs, fiscal incentives, the CREATE MORE Act, and other measures to help stakeholders expand and diversify investments in the region.

BOI-Investment Assistance Center Executive Director Bobby F. Fondevilla said the activity reinforces the agency’s commitment to create environments where investments and industry can thrive.

“BOI-ASSIST was created to bridge the information gap between the government and the business sector, to build trust through transparency, and to ensure that the full spectrum of available investment support, from policies and programs to fiscal incentives and operational reforms, are all understood and accessible to our stakeholders,” Fondevilla said.

Fondevilla said the BOI aims by 2026 to convert investment approvals into operational projects through continued coordination with national and local government partners. He said the goal is to assure investors that localities are prepared and supported by policies that promote investment.

Regional economic growth

Department of Trade and Industry (DTI)-10 Assistant Regional Director Almer R. Masillones said Northern Mindanao continues to post steady economic growth, noting that Bukidnon remains among the country’s top agricultural producers, while Misamis Oriental’s industrial expansion drives regional development.

Masillones cited Budget Secretary Amenah Pangandaman’s remarks at the Philippine Economic Briefing on Oct. 20, emphasizing Cagayan de Oro’s role as a key gateway for trade, investment, and innovation in Mindanao.

With sustained government infrastructure support and investor confidence, Masillones said initiatives such as BOI-ASSIST play a crucial role in promoting local development.

“We commend the BOI for this initiative to engage stakeholders by providing everyone with vital information on investment opportunities, policies, and other programs that can help unlock the full economic potential of the region,” Masillones said.

She also affirmed the DTI’s support for local industries and micro, small, and medium enterprises by maintaining clear investment policies and pursuing opportunities to expand markets and strengthen competitiveness and inclusive growth.

Cagayan de Oro City Administrator Roy Hilario P. Raagas expressed the city government’s support for the BOI in promoting Cagayan de Oro as a regional growth center.

“Our goal is simple yet enduring: make Cagayan de Oro, the region, and the rest of Mindanao a place where businesses can thrive with confidence, where people can live and work, and where development is felt not just in numbers but in the improved lives of our citizens,” Raagas said.

The BOI-ASSIST in Cagayan de Oro is part of the Mindanao leg of the initiative’s 11th year, held under the theme “Promoting, Accelerating Sustainable Investment Growth.” The program seeks to advance an investor-friendly and competitive business environment. (GDA/PIA-10)

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