The Central Visayas Region (Region 7)—comprising Cebu, Bohol, Negros Oriental, and Siquijor—has long been a vital contributor to the Philippine economy. Known for its thriving tourism, manufacturing, and service industries, the region continues to attract both local and foreign investors.
Behind this steady growth is a crucial government agency working to stimulate regional investment and development: the Board of Investments (BOI).
As a lawyer would emphasize, the BOI operates not merely as an administrative body—it is a legal and economic instrument that drives the country’s industrialization and inclusive regional growth.
Here’s how the BOI plays a pivotal role in supporting economic progress in Region 7.
1. By Granting Legal Incentives to Attract Investors
The BOI, under the Department of Trade and Industry (DTI), implements the Omnibus Investments Code of 1987 (Executive Order No. 226) and the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act (Republic Act No. 11534).
These laws empower the BOI to grant a wide range of fiscal and non-fiscal incentives to qualified enterprises, such as:
Income Tax Holidays (ITH) for up to six years
Duty-free importation of machinery and equipment
VAT zero-rating on certain local purchases
Additional deductions for labor and training expenses
By providing these incentives, the BOI makes Region 7—especially Cebu and Bohol—more attractive to investors who seek cost-efficient operations and government-backed legal stability.
📜 Legal Insight: Under Section 17 of the Omnibus Investments Code, these privileges are vested in law and cannot be withdrawn arbitrarily, ensuring investor confidence and protection.
2. By Promoting Regional Development Outside Metro Manila
One of the BOI’s key policy mandates is decentralizing economic activity. Instead of concentrating industries in Metro Manila, the BOI encourages investors to set up operations in regional growth centers like Cebu City, Bohol, and Negros Oriental.
Enterprises locating in these provinces may receive longer tax holidays and additional deductions under the Investment Priorities Plan (IPP)—the annual blueprint that outlines sectors and regions eligible for incentives.
This not only diversifies the country’s economic landscape but also promotes job creation, infrastructure improvement, and community development in Region 7.
📌 Example: Manufacturing firms or renewable energy projects situated in Cebu’s countryside can qualify for extended incentive periods as part of the government’s balanced regional development strategy.
3. By Supporting Export and Industrial Development
Region 7 is home to some of the country’s busiest ports and export-processing zones. The BOI works hand in hand with the Philippine Economic Zone Authority (PEZA) and local governments to promote export-oriented industries such as furniture, electronics, shipbuilding, and IT-enabled services.
BOI-registered exporters benefit from:
Simplified customs procedures
Exemption from export taxes and wharfage dues
Priority access to trade assistance programs
These measures ensure that Cebu-based enterprises remain globally competitive and legally protected in their cross-border transactions.
4. By Encouraging Sustainable and Inclusive Industries
Under the Strategic Investment Priority Plan (SIPP), the BOI gives priority to green, innovative, and inclusive investments—such as renewable energy, sustainable tourism, digital services, and agriculture modernization.
For Region 7, this means more support for businesses that balance profit with environmental and social responsibility.
📜 Legal Perspective: Pursuant to the CREATE Act, environmentally sustainable projects may qualify for enhanced deductions and longer incentive periods to encourage long-term ecological balance in economic development.
5. By Strengthening Local Employment and Skills
BOI-registered enterprises are entitled to additional deductions on labor expenses, provided they employ workers from outside Metro Manila.
This provision directly benefits local residents in Cebu, Bohol, and Negros Oriental by creating stable employment opportunities and encouraging skills development programs.
Moreover, businesses may legally employ foreign technical experts to transfer specialized knowledge to local employees, further strengthening the regional talent pool.
6. By Providing Legal Certainty and Investor Confidence
Perhaps the most significant contribution of the BOI to Region 7’s economic growth is the legal certainty it provides.
BOI registration ensures that investors operate under clear, predictable, and enforceable laws—shielding them from arbitrary policy changes and excessive local bureaucracy.
As a result, both domestic and foreign entrepreneurs feel more confident establishing and expanding their ventures in Central Visayas.
Final Thoughts
The Board of Investments is not just a government agency—it’s a catalyst for sustainable regional growth and legal protection for businesses in Region 7.
Through tax incentives, streamlined processes, and strong investor support, the BOI transforms Cebu and its neighboring provinces into a thriving hub for innovation, employment, and inclusive development.
For entrepreneurs and investors in Central Visayas, BOI registration is more than a compliance measure—it’s a strategic legal advantage and a commitment to long-term, lawful growth.
If you’re ready to register or expand your business in Region 7, consult a qualified business lawyer or BOI-accredited consultant to ensure you maximize the full benefits legally available to you.
With the right legal guidance, your business can contribute not just to your own success—but to the continued economic rise of the entire Central Visayas region.
Navigating the business landscape in the Philippines can be both rewarding and intricate. Whether you’re embarking on a new venture or scaling up, ensuring that your corporate endeavors are in line with local regulations is paramount.
At CBOS Business Solutions Inc., we pride ourselves on simplifying these processes for our clients. As a seasoned professional services company, we offer comprehensive assistance with SEC Registration, Visa processing, and a myriad of other essential business requirements. Our team of experts is dedicated to ensuring that your business is compliant, well-established, and ready to thrive in the Philippine market.
Why venture into the complexities of business registration and compliance alone? Allow our team to guide you every step of the way. After all, your success is our commitment.
Get in touch today and let us be your partner in achieving your business goals in the Philippines.
Email Address: gerald.bernardo@cbos.com.ph
Mobile No.: +639270032851
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