BOI to recognize registered firms’ excellence

MAKATI CITY-- The Philippine Board of Investments (BOI), the lead investments promotion agency of the country, announced that nominations for the Guinogulan Awards is now open.

Inspired by the native Filipino word Guinogulan which literally means Lord of Golds, the brand of citation will recognize BOI-registered business enterprises (RBEs) that show excellence and significant contribution to the country's economic growth through capital infusion, employment generation, introduction of new technologies and innovation, implementation of community relations, economic linkages, and adoption of Inclusive Business models in their operations.

Guinogulan is the best grade of native gold that weighed about 22 carats. Being of highest grade, these are made into precious jewelry and ornaments. It is energizing and powerful as it conducts heat and electricity. Gold is tenacious and in its purest form, withstands tarnishing even with the passage of time.

All these characteristics are metaphoric to the Awards as the recipients exemplify stability, flexibility, and adaptability in the face of changing economic conditions. They are current symbols of prestige, commitment, and responsibility as they believe in the strength and potential of the Philippines to meet challenges of global competition, said Trade Undersecretary and BOI Managing Head Ceferino Rodolfo.

In support of the Philippine global branding, the Awards will further highlight the competitive advantages of doing business in the Philippines with the awardees as living proofs and testimonies to the viability and profitability of doing business in the country, he said. The Awards is also a platform to inform the success stories of registered micro, small and medium enterprises (MSMEs) who are able to thrive and even expand, and have successfully integrated their operations in global value chains, Undersecretary Rodolfo said.

Nomination forms are available at the BOI Investment Assistance Service at the Ground Floor of the BOI Building or can be downloaded at the BOI Website: Deadline for submission of entries is June 15, 2017. Interested parties can get in touch with the Criteria and Selection Committee through the following contact details: (+632) 895-3666, 683-3504 local 326 (Telephone Numbers); 895-3983 (Telefax); and/or (email).

BOI will confer the awards during the Invest Philippines Night on October 9, 2017 at the Philippine International Convention Center, Pasay City.

The first Guinogulan Awards was conferred in 2009 during the agency's 42nd Founding Year. As the BOI is celebrating its 50th Founding Anniversary in September this year, the agency is giving recognition to well-deserving RBEs that passed through a stringent selection process using different levels of criteria for six categories namely: Guinogulan Award for Micro Enterprise (total assets up to PhP3 million); Guinogulan Award for Small Enterprise (above Php3 Million); Guinogulan Award for Medium Enterprise (above Php15 million); Guinogulan Award for Large Enterprise (above PhP100 million); and the Guinogulan Business Excellence Award for the Most Outstanding Business Enterprise.

The Guinogulan Awards for Micro and Small Enterprises are given to firms that exhibit the ability to innovate and adapt to the changes in market demand in order to survive and thrive.

The Guinogulan Awards for Medium and Large Enterprises are given to companies that show survival and growth even at varying and challenging economic conditions.

The Guinogulan Business Excellence Award, the highest recognition to be conferred, is given to the firm that demonstrates all the criteria. In addition, the company should also show its investment project's significant impact to the community, either through implementation of an Inclusive Business model into the company's operations and the business activity's impact and contribution to the country's economic growth.

The BOI will hand the masterpieces of art crafted by world-renowned artist Ramon Orlina. Etched and sculptured from solid glass, the pieces reflect the Orlina tenets of originality, improvisation, and innovation.

Investor confidence remains high in the country as evident in the continued growth in BOI investment registration figures in recent years. With sustained investor confidence in the country's macroeconomic fundamentals and the early approval of the 2017 Investments Priorities Plan (IPP), we expect a more robust if not, an unprecedented growth in investments this year, said Undersecretary Rodolfo adding that the agency is eyeing the P500 Billion investment mark by the end of 2017 or P500 Billion for BOI@50.

Source: Philippines Information Agency

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