00:00The Board of Investment has approved the 2.35 billion pesos modernization project for the Iloilo Commercial Port Complex
00:09that will be built in Iloilo City.
00:11This project is the construction of Bisayan Container Terminal,
00:16a branch of the International Container Terminal Services Company.
00:20Because it is registered in the BOI,
00:23this project will be given an incentive under the Create Law,
00:27along with the benefits of non-payment of income tax within three years
00:34and five years tax-free for the materials to be imported.
00:37This project is worth more than 10 billion pesos.
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