MANILA - The Investment Assistance Service of the Bureau of Investments is crafting guidelines that would help investors respond to disasters, a move that came up as the Taal Volcano in Batangas showed signs of increased unrest.
Within the 14-kilometer danger zone around the Taal Volcano in Batangas, there are at least 60 enterprises that are supervised by the BOI-Calabarzon, BOI Investment Assistance Service Executive Director Bobby Fondevilla told ANC.
"Part of the plan really is to come up with something strong, linkages amongst government agencies, private entities. Among other things we have to come up with— literature and a guideline that would really guide companies on what to do in case catastrophic events happen like this one," Fondevilla said.
The guideline should include responses to other disasters such as earthquakes and typhoons. The Philippines is among countries most vulnerable to disasters.
There are housing, manufacturing and exports firms, among others, within the danger zone that could suffer from the impact of another Taal Volcano eruption, he said.
"We have identified at least for the BOI those enterprises located in those areas...that should they need any assistance from us then can contact us anytime," he said.
The state seismology bureau on Thursday heightened the warning level at the volcano to Alert level 3 from Alert level 2, which means there was "magmatic intrusion" at Taal's main crater that may "drive succeeding eruptions."
In 2020, when the volcano erupted, the agriculture sector alone lost about P3 billion, the Department of Agriculture earlier said.
Calabarzon is the second largest contributor to the country's economy next to Metro Manila.