BOI, DTI brings energy efficiency roadshow to Subic

In its effort to promote renewable energy to locators in this premier Freeport, Subic Bay Metropolitan Authority (SBMA) co-organized and welcomed the "Make REshift Happen" roadshow.

The Make REshift Happen roadshow is a forum organized by the Board of Investments (BOI) of the Department of Trade and Industry (DTI) at the Subic Grand Harbour Hotel here on October 2, 2024.

SBMA Chairman and Administrator Eduardo L. Aliño said that the Make REshift Happen project introduces the guidelines for registering Energy Efficiency and Conservation (EE&C) Act projects.

He also said that it also aims to raise awareness on and support for the national government’s goal of consuming 35 percent of the power generation mix in the country from renewable energy by 2030 and 50 percent by 2040. 

Participants from manufacturing companies inside the Freeport, together with their respective SBMA account officers, took part in the info session wherein the BOI urged local manufacturers to decrease their reliance on conventional energy sources by embracing energy efficiency and conservation measures.

BOI Director for Domestic Investments Promotion Service (DIPS) Maria Rosario Dominguez expressed her gratitude to the SBMA for co-hosting the event, citing that the Make REshift Happen would certainly be beneficial to Subic Freeport companies here.

She added that the Make REshift Happen is a testament to the BOI's dedication as the country’s primary investment promotion agency (IPA) in fostering camaraderie among IPAs, ecozones and industrial parks, and in pushing for the adoption of renewable energy.

She also said that these roadshows are made for enterprises engaged in export-oriented manufacturing and other industries with substantial power requirements.

During the session, BOI Resource-Based Industries Service Director Raquel Echague cited the importance of the transition of manufacturing companies to renewable energy (RE) in powering their businesses inside this premier Freeport.

The official also said that companies who transition to REs are given incentives, adding that the BOI and the DTI aim to provide benefits to facilities who will use renewable energy sources to power their operations.

Echague also conducted a presentation on the updated registration guidelines for EE&C projects with BOI under Republic Act No. 11285 (RA11285) or the EE&C Act, to provide the SBMA account officers with information on how to assist companies here in applying for their incentives.

Last month, the SBMA launched the “Race to Carbon Neutrality” project where participants and other stakeholders of the recently concluded Central Luzon Tourism Summit expressed their support to ensure its success.

The Race to Carbon Neutrality project aims to reduce these carbon emissions in the Freeport by 30 percent by 2030, and eventually to net zero by 2040.

Currently, the SBMA continues to reap savings from its own solar power system projects installed as early as 2017. A total of P2.96 million was saved in 2023 from solar power systems Malawaan Park, Bldg. 229, Bldg. 255, Bldg. 662, Regulatory Bldg., and the Remy Field. (MPD-SBMA) 

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Philippines' total approved foreign investments down by 44.4 percent in Q3 2014

MANILA - Total foreign investments (FI) approved in the third quarter of 2014 by the seven investment promotion agencies (IPAs), namely: Board of Investments (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA) as well as the Authority of the Freeport Area of Bataan (AFAB), BOI-Autonomous Region of Muslim Mindanao (BOI-ARMM), and Cagayan Economic Zone Authority (CEZA) amounted to P18.3 billion, 44.4 percent lower than the P32.9 billion recorded in the same period last year.

Meanwhile, total approved FI for the first nine months of 2014 reached P91.8 billion, declining by 35.4 percent from the amount recorded last year at P142.1 billion.

The top three prospective investing countries during the quarter include the Netherlands, Japan, and the United States of America (USA). Netherlands topped the list, pledging P4.4 billion or 24.3 percent share, followed by Japan and USA, committing P3.7 billion and P2.8 billion, or 20.1 percent and 15.3 percent of the total approved FI, respectively.

Manufacturing industry contributed the largest amount of committed foreign investments in the third quarter of 2014, with investment pledges recorded at P8.8 billion or 48.0 percent of the total FI. Administrative and support service activities came in second, contributing 20.8 percent or P3.8 billion worth of investment commitments, followed by real estate activities, which accounted for 13.3 percent or P2.4 billion.

Approved investments of foreign and Filipino nationals reached P159.6 billion during the period, declining by 15.7 percent from last year’s P189.3 billion. Filipino nationals continued to dominate the investments approved during the quarter, sharing 88.5 percent or P141.3 billion worth of pledges.

Bulk of the investments are intended to finance activities in manufacturing, contributing P67.6 billion and with a share of 42.4 percent, followed by real estate activities at P31.4 billion or 19.7 percent share, and construction at P24.8 billion or 15.5 percent share.

Total projects of foreign and Filipino investors approved by the seven IPAs in the third quarter of 2014 are expected to generate 54,606 jobs, an increase of 38.9 percent from last year’s projected employment of 39,314 jobs in the same period. Out of these anticipated jobs, 74.3 percent would come from projects with foreign interest. (PIA) 

http://news.pia.gov.ph/article/view/2131418721159/total-approved-foreign-investments-down-by-44-4-percent-in-q3-2014-

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IPAs to set unified investments goal and strengthen referral system

The government’s investment promotion agencies (IPAs) are expected to come up with a unified investment target as they collaborate to further strengthen a referral system to promote each other in their various investment campaigns, including the huge agricultural potential for Bangsamoro provinces.

Trade and Industry Undersecretary Ponciano C. Manalo Jr. told reporters that heads of the various IPAs met recently in Zamboanga City and agreed to jointly promote the country as an investment destination with a single message “Invest Philippines”.

With that, Manalo said the IPAs should have a common investment target noting that the Board of Investments and the Philippine Economic Zone Authority are the ones accounting for the bulk of investments generation.

At present, each IPAs have individual targets which are later on combined but Manalo, as head of the DTI investment promotion group, said the IPAs, can adopt a unified target where there is a specific target for foreign direct investments and total projects approved.

The IPAs are led by the government’s premier investment premier investment promotion agency Board of Investments (BOI). Other IPAs include the Philippine Economic Zone Authority, Subic Bay Metropolitan Authority, Cagayan Economic Zone Authority, Zamboanga Special Economic Zone, Aurora Special Economic Zone, Philippine Retirement Authority, Phividec Industrial Estate, BOI-Autonomous Region of Muslim Mindanao and the Bases Conversion Development Authority.

In 2010, the IPAs had set an investments growth target of 10 percent in 2010 and 15 percent for 2011 to 2012 and 20 percent by 2013 to 2014. Investments generated by the government’s IPAs in 2009 reached P315.28 billion from P473.25 billion in 2008.

The setting of an investments target could help the IPAs measure their performance in light of the good reviews the country has been getting from the international business community.

“We should be running on all four cylinders,” Manalo stressed.

To push for an aggressive investment promotion campaigns, Manalo also urged the iPA members to work together by providing referrals for each other noting that not every IPA can accommodate all the specific needs of investors. There are small IPAs that can host small manufacturing operations.

“I encourage them to work together that even if they have specific mandate they can refer each other for projects that are suitable in another area,” Manalo said.

He cited the case of the recent P9 billion investment of Panhua Group Co. Ltd. in Subic Bay. The Chinese firm plans to build a pre-paint could and metal sheets factory for export and domestic markets.

The Panhua investment was actually an effort of the BOI, which was referred to the more appropriate Subic Bay Metropolitan Authority because Subic can appropriately serve the requirements of this manufacturing firm.

Manalo also cited the Authority of the Freeport Authority of Bataan, which has already an established players of garments and leather goods making it easier in terms of materials sourcing.

In the case of the Bangsamoro, Manalo was positive that once the law is passed, there will be more investments inflow particularly in agriculture in this region

“I am very hopeful, Mindanao is very rich in agriculture and agri processing,” he said.

It is rich in fisheries, rubber, seaweed manufacturing, tuna and sardines processing.

“Once the Bangsamoro is completed with a plebiscite, I am very hopeful for Zamboanga,” he added.

The incentives to be granted by IPAs to investors will depend on the list of economic activities listed under the Investment Priorities Plan (IPP), an annual list of priority projects that are entitled to government incentives.

Manalo further said the 2014 IPP has identified sectors that need reinvestments the most. (Bernie Magkilat, Manila Bulletin)

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