Fast lane in business transactions called the Bohol Business One-Stop Shop (BOSS) has recently been fine-tuned through the Bohol Investment Promotion Center (BIPC) to fast-track the entry of investors to the province.
It just came in time as the go-signal for the US$100-million bio-ethanol plant of the Korean government's Biolsystems, Inc. came a week after the Department of Trade and Industry and BIPC hosted the BOSS harmonization workshop on August 25 at Seglim Function Room of Bohol Tropics Resort.
In his inspirational message during the event, Governor Erico Aumentado- -who also chairs the Bohol Investment Board- -said that with Bohol One-Stop Shop (BOSS) the provincial government will be able to respond immediately to the requirements of investment in Bohol, especially with the coming in of investors.
Biolsytems, Inc. will be occupy 60 hectares of the 100-hectare special economic zone of Talibon to house its bio-ethanol processing plant in the.
On the other hand, a Japanese investor will be occupying 20 hectares in the special economic zone that will be Bohol's industrial park.
Anchored on the strong government support, the BOSS concept has been adopted in nine towns here as an annual practice in time for the renewal of business licenses that has streamlined business processes and licensing systems in the towns of Talibon, Ubay, Tubigon, Jagna, Maribojoc, Cortes, Antequera, Catigbian and Balilihan.
To elaborate on Bohol's investment scorecard, BIPC Head Maria Fe Dominise gave a PowerPoint presentation on the Investment Prospects on the island Province of Bohol.
She cited the edge of Bohol as one of the top tourist destinations in the country, to be dubbed as "a promising location for both business and pleasure and that Bohol provides quality services at competitive costs in a resort environment that offers a high quality of life".
Through the BOSS, BPIC intends to "encourage investments and enterprises to locate in the province by making business registration procedures simpler and easier as it will house mandated and partner agencies involved in business registration application under one roof," Dominise explained.
The governor even mentioned about renovating the BIPC office to a larger one to be able to accommodate clients.
Dominise also cited the Bohol Investment Code which offers fiscal Incentives like exemption from real property tax for seven years, tax credit of 10 percent of the total cost of infrastructure to be deducted from future real property tax liability within a period of seven years.
The non-fiscal incentives include assistance and services of BIPC and services of the BOSS like registration of businesses permits, facilitating licenses requirements, and assistance in the preparation of project studies from certified BDSPs.
The BIPIC head also explained that "we need to create opportunities that spur sound economic activities through investments/enterprises that provide sustainable livelihood and quality employment for people".
This is "to create wealth in Bohol through entrepreneurial profit, and the purchasing power from quality employment", she said.
Dominise also cited that 60 percent or 716,000 of the 1.2 million Boholanos compose the labor force, while seven percent or 50,000 remain unemployed.
"Bohol is an attractive and competitive destination for business; therefore, let us put our acts together to create opportunities now!" Dominise called on Boholanos. - the Bohol Chronicle
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