Governor Ongchuan
visits BOI to boost investment opportunities in Northern Samar
|
Towards
investor-friendly environment in Northern Samar: Trade
Undersecretary and BOI Managing Head Ceferino Rodolfo (5th
from L) met with Governor Edwin Marino Ongchuan (middle) at
the BOI Main Office in Makati City on March 12, 2024. |
By
DTI-Board of
Investments
March 19, 2024
MAKATI CITY –
Making more investment opportunities happen in Northern Samar, the
province’s local government, led by Governor Edwin Marino C.
Ongchuan paid a courtesy visit to DTI Undersecretary and BOI
Managing Head Ceferino S. Rodolfo at the BOI Main Office in Makati
City on March 12, 2024.
Notably, the visit was a
follow-up of the signing of the Memorandum of Agreement entered
between BOI and the LGU earlier this year.
Governor Ongchuan told
Undersecretary Rodolfo and One Stop Action Center for Strategic
Investments (BOI-OSACSI) team that LGU Northern Samar is the first
to enact an ordinance establishing a One-Stop Shop (OSS) for Green
Lanes for Strategic Investments under EO No. 18.
Establishing OSS in the
province will result in the creation of an efficient and
investor-friendly process for obtaining business permits and
licenses (City/ Municipal/ Barangay) by having one point of
transaction through the Provincial Capitol, attracting more
investments and promoting economic growth in Northern Samar.
Moreover, officials of the
BOI and the Provincial Government of Samar expect an influx of
investments in Northern Samar, particularly in the areas of
renewable energy and digital infrastructure.
Hence, BOI-OSACSI
introduced projects under Green Lane – CI NMF (PH) (offshore wind
project), Philtower Consortium, and Aboitiz Infrastructure.
Undersecretary Rodolfo looks forward to continuing working closely
with the LGU and all its partners to ensure the realization of these
projects.
After the courtesy visit,
the BOI team facilitated an investment dialogue between the LGU and
Energies PH Inc., the proponent of the Ocean Power Project on Capul
Island, situated at the San Bernandino Strait in Northern Samar.
This tidal project is the
first in the Philippines and Southeast Asia. According to the
company's President, Mr. Antonio Ver, the company already secured a
Certificate of Commerciality from the Department of Energy (DOE).
In response, BOI Director
Ernesto C. Delos Reyes, Jr. said that the project, identified as a
strategic investment, is qualified to apply under Executive Order (EO)
18. As such, the permitting applications of projects endorsed for
green lane will be streamlined and expedited.
The green lanes for
strategic investments were established through Executive Order No.
18, which was approved by the Office of the President in February
last year. Green lanes aim to hasten, simplify, and automate the
permit and license application processes for strategic investments
in the Philippines.
