The provincial government has finally put in place the fast lane in investment transactions—the Bohol Business One-Stop Shop (Bohol BOSS)- -in an effort to boost the influx of investors by making it easier to start any business. Bohol now stands as the second province in Central Visayas , next to Cebu , to have set up the BOSS in consonance with Republic Act 7470 or the National Economic Research and Business Assistance Center (NERBAC) of the Philippines Act of 1992 a pproved on April 29, 1992. Upon the instruction of Governor Erico Aumentado, the Bohol Investment Promotion Center (BIPC) has renovated its office at the first floor of the Governor's Mansion to accommodate the desks of partner agencies are involved in processing investment requirements and prerequisite papers. The governor led local officials in the launching Bohol BOSS last Friday, graced by Department of Trade and Industry (DTI) Secretary Peter Favila and DTI-7 Regional Director Aster Caberte- -a Boholano.

In his opening remarks during the program, Aumentado pointed out that Bohol BOSS would be instrumental in establishing the business climate of the province, especially that the provincial government has forged partnership with foreign investors for the Multi-Access Cluster project and the development of economic zones- -the Talibon Special Economic Zone and the Panglao Tourism Zone. Aumentado agreed with Tagbilaran City Mayor Dan Lim in citing that, in many cases, the complex process of complying business requirements discourage investors and that the one-stop shop offers the solution as it would simplify everything. Part of the opening program, Aumentado led the members of the Governing Board in the declaration of commitment where they vowed to work together in promoting “ Bohol 's competitiveness, revenue generation and business empowerment; and to actively stimulate entrepreneurship and productivity in the entire province”.

The body also committed “to initiate efforts to improve the business registration, permit and licensing system in the province”. The provincial government, represented by the governor, also signed a memorandum of understanding with partner agencies, represented by their heads- -DENR, DAR, DTI, BIR, SSS, PhilHealth, Pag-Ibig HDMF, BCCI, city government of Tagbilaran, and the local government units of Panglao, Dauis, Talibon and Ubay- -on their respective duties and roles in the operation of BOSS as an institution that streamlines business processes and procedures, simplify and harmonize business requirements. For his part, Favila said the BOSS addresses the problem on red tape which actually is the mission that President Gloria Macapagal Arroyo has assigned him to accomplish and he understands her point, considering that the President sponsored the Nerbac Law when she was still a senator.

The secretary said this is the reason why he has instructed regional directors of DTI to set up Nerbac in every region to set as model for the provinces. Favila also said that in the President's many trips abroad that he had joined, promoting Philippines would always involve mentioning Bohol as one of the top growth areas of the country. The secretary also commended Aumentado for having hauled Bohol from the list of poorest provinces in the country by addressing poverty that also solved the insurgency problem of Bohol. “I've never [met] a government official as honorable as Governor Erico Aumentado. I joined the public service five years ago as I was from the private sector. Governor Aumentado is one of the officials I have high respect for,” Favila said. Aumentado- -who also chairs the Bohol Investment Board- -said that with Bohol One-Stop Shop (BOSS) the provincial government would be able to respond immediately to the requirements of investment in Bohol , especially with the increasing influx of investors.

In presenting the project, BIPC Head Maria Fe Dominise said the BOSS has been intended to streamline business processes and licensing systems and is anchored on the strong government support. Dominise cited the edge of Bohol as one of the top tourist destinations in the country, to be dubbed as "a promising location for both business and pleasure and that Bohol provides quality services at competitive costs in a resort environment that offers a high quality of life". Through the BOSS, BPIC intends to "encourage investments and enterprises to locate in the province by making business registration procedures simpler and easier as it will house mandated and partner agencies involved in business registration application under one roof," Dominise explained. Dominise also cited the Bohol Investment Code which offers fiscal Incentives like exemption from real property tax for seven years, tax credit of 10 percent of the total cost of infrastructure to be deducted from future real property tax liability within a period of seven years.

The non-fiscal incentives include assistance and services of BIPC and services of the BOSS like registration of businesses permits, facilitating licenses requirements, and assistance in the preparation of project studies from certified BDSPs. The BIPIC head also explained that "we need to create opportunities that spur sound economic activities through investments/enterprises that provide sustainable livelihood and quality employment for people". This is "to create wealth in Bohol through entrepreneurial profit, and the purchasing power from quality employment", she said. " Bohol is an attractive and competitive destination for business. This province and the country for that matter, shall rise several notches higher towards being a competitive destination for doing business and offering a better quality of life for all who locate in Bohol ,” Dominise said. She also cited that the SME sector in Bohol is expanding, but figures show that in the food processing industry, the number of unregistered food processors surpass the number of registered firms with business names, and the operation of BOSS will address this. Based on the vision that the BIPC team formulated, BOSS will function as an investment service facility with international standards that provides one-stop assistance and ensures an enabling environment for investors to locate and engage in sustainable business in Bohol .

For its mission, BOSS ensures that Bohol 's competitiveness as an attractive investment destination by providing efficient 24/7 business-related services towards promoting sustainable growth and development. "Our goal then, as enablers, is to encourage investments and enterprises in the province and to take up the challenge of making the business of getting into business simpler and easier for entrepreneurs and investors,” Dominise pointed out. In support to BOSS and other developmental efforts of different sectors, the website http://newsdeskbohol.wetpaint.com offers the Subject Matter page- -now going online, for information dissemination services through the borderless worldwide web.