An entity seeking investment privileges and incentives from the Board of Investments (BOI) is required to formally apply for registration. This application process involves submitting detailed information about the proposed project, including its nature, scope, location, projected financial performance, and anticipated economic impact. For instance, a manufacturing firm planning to establish a new factory producing export-oriented goods would need to submit a comprehensive application outlining these details to the BOI.
The act of seeking registration with the BOI offers substantial advantages, such as fiscal and non-fiscal incentives designed to promote investment in priority sectors. These incentives can significantly reduce the cost of doing business and improve the project’s overall profitability. Historically, the BOI has played a pivotal role in attracting both domestic and foreign investment, thereby contributing to economic growth and job creation. The application process is a critical gateway to accessing these benefits and aligning a project with national development goals.
