The Board of Investments (BOI) and BDO Unibank Inc., the country’s largest universal bank, signed on Sept. 3, 2024 a memorandum of understanding (MOU) aimed at attracting more investments into the Philippines.
“Our goal is not just growth but we aim to transform the Philippine economy. What matters most is the path we take to achieve this, and that means empowering the private sector with market-based tools. This is why our partnership with the country’s largest universal bank is so crucial to us,” said BOI managing head Ceferino Rodolfo.
The MOU outlines a framework for enhanced cooperation between the BOI and BDO, including joint investment seminars, promotion missions and business matching activities.
The partnership will also facilitate stronger economic and industrial linkages between BOI and BDO client investors and corporations.
A key aspect of the agreement is the creation of a platform for sharing crucial information about the Philippines and potential foreign investors.
The BOI also signed an MOU with Shinhan Bank Co. Ltd. (SHB), a leading South Korean commercial bank to attract more Korean investors to the country.
“We are very excited about the collaboration between the BOI and Shinhan Bank to attract investments from South Korea as we await the ratification of the Free Trade Agreement between our countries. Partnerships like this are crucial in maximizing the benefits of the FTA. What’s most important is working together to fully realize those advantages,” said Rodolfo.
