The Board of Investments (BOI) and the provincial government of Batangas signed a memorandum of agreement aimed at streamlining investment promotion and facilitation processes.
The signing of the MOA signals a strengthened partnership focused on improving the business environment and attracting investments to Batangas.
The MOA outlines a collaborative framework where the BOI will provide technical assistance to the province, including training programs for LGU frontliners in investment promotion, facilitation, and investor servicing.
Both parties will jointly promote Batangas as a prime investment destination. Batangas will, in turn, provide the BOI with crucial information like land availability and cost of doing business data.
Batangas agreed to designate a dedicated green lane focal point to streamline coordination with the BOI for strategic investments.
The province actively facilitated permits and licenses for strategic investments, particularly renewable energy projects, under the Green Lane initiative.
With numerous economic zones and industrial parks, Batangas thrives in sectors like tourism, agriculture, infrastructure and renewable energy.
Trade Undersecretary Ceferino Rodolfo said the Green Lanes for Strategic Investments was partly inspired by the 2018 Mandanas ruling, which expanded the share of local government units (LGUs) in national taxes.
Executive Order 18 empowers LGUs like Batangas to further support economic development.
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