Board of Investments (BOI)

What is the Board of Investments (BOI) in the Philippines?

The Board of Investments (BOI) is the lead investment promotion agency of the Philippine government, and it helps local and foreign investors set up and grow businesses in the country.

• It promotes investment across key industries and regions.
• It offers incentives like income tax holidays and duty exemptions.
• It guides investors through registration and local rules.

The Philippines holds huge room to grow its economy. Over the decades, it has built a deep pool of skilled talent. These workers are ready to thrive in world-class business settings.

One key body supports this growth. The Board of Investments (BOI) connects local talent with foreign investors. So it plays a big role in the country’s economic story. Read on to learn how the BOI works and what it offers investors.

About BOI

The Board of Investments (BOI) is the lead investment promotion agency of the Philippine government. It manages and promotes investment across industries and regions. So it drives balanced growth throughout the country.

The BOI’s mandate is clear. It aims to attract local and foreign investment. It also builds industries that compete on a global stage. As a result, it helps create more jobs for Filipinos. This work fits into the wider story of investing in the Philippines.

The BOI also works with local funds and financial bodies. Together, they lend low-interest funds to investors. So access to capital becomes much easier. In addition, this effort brings in state agencies and local governments. The BOI’s executive director oversees the whole setup.

Overall, the BOI makes the investment process simpler. It streamlines each step for both local and foreign stakeholders. As a result, doing business in the country feels far less complex. For many firms, this support is the first reason to choose the Philippines.

Unprecedented investment growth

The BOI keeps setting new records for approved investments. For example, it approved PHP 1.62 trillion worth of projects in 2024. This marked the highest total in the agency’s 57-year history. It also topped the 2023 record by a wide margin. Local projects made up most of that figure. Meanwhile, foreign projects added several hundred billion pesos more. So the numbers point to strong and steady investor trust.

Making investments easy and accessible

The BOI favors both local and foreign investors in ICT. For this sector, it offers a separate range of incentives, which include:

• Income-tax holiday
• Exemption from taxes and duties on imported spare parts
• Exemption from wharfage dues and export taxes, duties, imposts, and fees
• Tax credits
• Additional deductions from taxable income

These perks changed under the CREATE law in recent years. So the exact terms now depend on the project type and location. For a deeper look, see this guide on the impact of the CREATE Tax Law. The BOI also runs an online system for investors. It handles pre-investment and post-investment questions with ease. It supports inbound missions and joint venture help too.

Through the portal, investors get email and SMS updates. Account officers send these alerts as concerns move along. So future investors can track their queries anytime and anywhere. Investors who prefer a special economic zone can also explore PEZA incentives, requirements, and locations.

A sunny business climate

So what does the country promise to foreign investors? First, it offers a wide range of Filipino skills and talent. In addition, these workers bring strong values and a service mindset. Second, it offers a stable business climate. As a result, firms find a base built for long-term growth. Good governance and steady policy support that climate.

The BOI does more than record incoming investment. It also lays easy groundwork for new investors. In addition, it guides them through local laws and processes. So investors learn the rules and the benefits step by step. New entrants can start with a clear view of business registration in the Philippines.

Many key players now view the country as a strong base. They see it as a home for tech partners and new projects. The outsourcing sector shows this trend well. To see the scale, read about BPO and the Philippine economy. Is your IT-BPM firm ready to grow in new soil? The Philippines may be part of the future you seek.

Frequently asked questions

What does the Board of Investments (BOI) do?

The BOI promotes investment across Philippine industries and regions. It offers incentives to draw in local and foreign investors. It also guides them through registration and local rules.

What incentives does the BOI offer?

The BOI offers perks like income tax holidays and duty exemptions. It also grants tax credits and extra deductions in some cases. The exact terms depend on the project and the CREATE law.

How is the BOI different from PEZA?

The BOI promotes investment across the whole country. PEZA focuses on firms inside special economic zones. Both offer incentives, but the rules and locations differ.

Why is the BOI important for BPO firms?

The BOI supports the IT-BPM sector with tailored incentives. So BPO firms can lower costs as they set up shop. The agency also helps them navigate local rules. For the wider view, see the Philippines BPO industry outlook.

Key takeaways

• The Board of Investments (BOI) is the country’s lead investment promotion agency.
• It offers incentives such as income tax holidays and duty exemptions.
• BOI approvals hit a record PHP 1.62 trillion in 2024.
• It guides local and foreign investors through registration and rules.