BOI approves IKEA Philippines registration
Swedish furniture maker IKEA has secured a certificate of registration from the Board of Investments (BOI) to open stores in the Philippines.
The registration certificate was given to Ikano Pte. Ltd., the franchise holder of IKEA in Southeast Asia, BOI Legal and Compliance Service Director Marjorie Ramos-Samaniego told reporters on the sidelines of the EU-Philippines Advocacy Forum on Retail Competition in Makati City on Friday.
In December 2016, Ikano pre-qualified as a foreign retailer in line with the Retail Trade Liberalization Act of 2000.
Samaniego, however, said that IKEA still needs to secure its incorporation papers from the Securities and Exchange Commission.
IKEA Southeast Asia posted a help wanted ad on professional networking site LinkedIn for a Design Manager, specifically for the Manila office. The posting was published in January, with a deadline set on Feb. 28, 2018.
IKEA, which stands for Ingvar Kamprad, Elmtaryd, and Agunnaryd, is a multinational furniture retailer and franchiser with 387 stores in 48 countries.
The acronym stands for the name of the company founder, the farm in which he was raised by his parents, and the village where he grew up.