The business sector in Negros Occidental should invest more in agriculture being the organic food bowl of the country, Governor Oliver Butalid of the Board of Investors said yesterday.

Butalid, who spoke at the BOI Investment Roadshow at the Planta Hotel and Residences in Bacolod, said the BOI now gives maximum incentives and pioneer status, not only to multi-national agencies but also to small projects.

The BOI is also urging the business sector in Negros Occidental to invest in medical facilities to service the needs of its growing population in the province, he said.

Batulid stressed that it is advantageous for entrepreneurs to register with the BOI before putting up or expanding a business so they can avail of the agency's free importation privileges and income tax holiday.

BOI records show that there were only 23 investments in Western Visayas registered with the industry since 2010 but Batulid said this does not speak of the actual statistics as there were investments in the region which were not registered with them.

He added that investors are also very selective nowadays in which area they will invest, because, even before they put-up or expand business in a certain place, they have already studied, and know what problems they might encounter there.

That is why, the strong partnership of local government unit and the local investment board is important, Batulid said.

The BOI is an attached agency of Department of Trade and Industry that assists Filipino and foreign investors to venture and prosper in desirable areas of economic activities like food processing, construction, metal products, telecommunications, power and infrastructure projects, among others.*APN

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