LEGAL BASIS AND MANDATE

BANGSAMORO AUTONOMY ACT NO. 13

AN ACT
PROVIDING FOR THE BANGSAMORO ADMINISTRATIVE CODE
AND FOR OTHER RELATED PURPOSES

BOOK IV
THE OFFICE OF THE CHIEF MINISTER

TITLE III:
Functions

Chapter 3
Attached Agencies and Offices

A. BANGSAMORO BOARD OF INVESTMENTS

Sec. 25. The Bangsamoro Board of Investments (BBOI). – There is hereby created the Bangsamoro Board of Investments mandated to promote the development of the regional and national economy in consonance with the principles and objectives of achieving global competitiveness, fostering economic efficiency, encouraging and supporting investments that promote region-wide development, and creating productive and quality employment.

Accordingly, and consistent with Article XII, Section 8 of the Bangsamoro Organic Law:

a. The Parliament may grant tax exemptions incentives under the Bangsamoro Organic Law upon a vote of majority of all its members: Provided, That these tax exemptions and incentives shall not diminish national revenues; and

b. Provided, further, That the grant of tax exemptions and incentives administered by the Regional Board of Investments (RBOI) of the Autonomous Region in Muslim Mindanao as provided for in Executive Order No. 458, Series of 1991, in relation to Executive Order No. 226, Series of 1987, otherwise known as the “Omnibus Investment Code” shall continue to apply.

Sec. 26. Powers and Functions of the Bangsamoro Board of Investments. – In accordance Executive Order No. 458, Series of 1991, and consistent with Article XII, Section 8 of the Bangsamoro Organic Law, the following powers and functions of the Board of Investments (BOI) over investments within the BARMM shall be exercised by the Bangsamoro Board of Investments (BBOI) of the Bangsamoro Government:

a. Approval/denial of applications for registration under the Omnibus Investments Code of 1987;

b. Cancellation of certificates of registration of enterprises registered with the Bangsamoro Government, and including those enterprises previously registered with the BOI;

c. Evaluation of incentives to be availed by enterprises registered with the Bangsamoro Government;
1. Special tax credit on raw materials and supplies, net value earned and net local content and domestic capital equipment;
2. Income Tax holiday; and
3. Reduced income tax.

d. Grant additional incentives, aside from those incentives under Book I, Title III, Article 39 of Executive Order No. 226, series of 1987; Provided, That the grant of tax incentives shall be in accordance with Section 8, Article XII of the Bangsamoro Organic Law.

Sec. 27. Regional Investment Priorities Plan. – The Bangsamoro Government shall prepare a Regional Investment Priorities Plan, through the Bangsamoro Board of Investments, consistent with Articles 27 to 31, Chapter II of the Omnibus Investment Code of 1987. The preferred areas of investment to be listed in the Regional Investment Priorities Plan shall be based on long-run comparative advantage, taking into account the value of social objectives and employing economic criteria along with market, technical, and financial analysis.

The Regional Investment Priorities Plan as formulated shall be integrated in the national Investment Priorities Plan upon the approval of the President of the Republic of the Philippines.

Sec. 28. Composition of the Board of Governors. – The Board of Governors shall be composed of the BBOI Chairperson as Chair, the Minister of Trade, Industry and Tourism as ex officio Vice-Chair, the Minister of Finance, and Budget and Management and Minister of Agriculture, Fisheries, and Agrarian Reform as ex officio members, and two (2) member Governors.

The Chairperson and the two (2) member-Governors shall be appointed by the Chief Minister and shall be coterminous with the appointing authority.

Sec. 29. Qualifications of Governors of the Board. – The Governors of the Board must be citizens of the Philippines, residents of the Bangsamoro Autonomous Region for at least six (6) months prior to their appointment, at least thirty (30) years old, of good moral character and of recognized competence in any of the following fields: law, economics, finance, banking, commerce, industry, agriculture, engineering, and management.

Sec. 30. Secretariat to the BBOI. – The BBOI Secretariat shall provide technical support to the Board, and shall be headed by a Board Secretary VI, with support staff. Its functions include:
a. Preparing the agenda and all other necessary documents and materials for the meetings of the Board;
b. Notifying Board members of the meeting and recording their attendance;
c. Recording each action taken up during the meetings; preparing and signing appropriate resolutions, if needed;
d. Maintaining all records of the Board;
e. Coordinating with the Bureau of Investments under the Ministry of Trade, Investments, and Tourism on policy matters that may need cooperation and coordination; and
f. Performing other related functions as may be directed by the Board.

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