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HomeFront PageBreaking NewsGovernor Ongchuan visits BOI to boost investment opportunities in Northern Samar

Governor Ongchuan visits BOI to boost investment opportunities in Northern Samar

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. 

Also, in the photo are the following officials: (L-R) BOI Division Chief Lubin R. De Vera Jr., Mr. Jhon Allen B. Berbon-PEDIPO Head North Samar, BOI Director Ernesto C. Delos Reyes, Jr., Governor Ongchuan, Undersecretary Rodolfo, Mayor Isidro S. Bandal of Capul, Samar, and Mr. Jay Keenson Acebuche, OIC-PPDO Northern Samar.

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.

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