The Board of Investments and the provincial government signed a memorandum of agreement to facilitate the entry of P9.5 billion worth of pipeline projects and make it easier for investors to do business in the country.
“With this strengthened partnership, the province becomes more attractive to both foreign and local investors,” said Trade Undersecretary and BOI managing head Ceferino Rodolfo.
He said Cavite is one of the most progressive provinces in the country evidenced by more businesses locating in the area, in addition to its upward ranking in the 2022 Cities and Municipalities Competitive Index.
Under the partnership, the Cavite provincial government will provide updated and relevant information to the BOI such as investment profiles, priority areas and other opportunities. It will also establish a green lane for BOI-registered firms to fast-track the processing of projects.
The BOI will provide Cavite with technical support on investment-related matters such as consultations and workshops and link up the province with potential local and foreign investors.