BOI Governor Napoleon Concepcion welcomes and thanks representatives of the Investments Promotion Unit Network (IPUNET) member agencies during the group’s annual Conference and Recognition Ceremony held on December 13, 2018 in Ortigas Center, Pasig City.

The Philippine Board of Investments (BOI), the country’s primary industry promotion agency (IPA), together with the members of the Investments Promotion Unit Network (IPUNET) vowed for a continued interagency collaboration to facilitate investments in the country through a Conference and Recognition Ceremony on 13 December 2018, at the Discovery Suites in Ortigas Center, Pasig.

BOI, which serves as the IPUNET secretariat, reported the summary of issues, concerns, and queries (ICQs) the network has facilitated in 2018, and solicited feedback on the amendments to the network’s Memorandum of Agreement (MOA) from the attendees. The amended IPUNET MOA, which is set to seal a renewed cooperation among the member agencies, is projected to be finalized and signed within the first quarter of 2019. Member agencies likewise exchanged updates and ideas on how to further strengthen relations, address challenges that the IPUNET is faced with.

The Philippines is number one when it comes to investment according to the 2018 report of the US News and World Report. However, as far as the Ease of Doing Business Index, we are ranked 124th out of 190 countries. People are bringing in their capital. However, we are too slow in moving documents. This removes confidence, and this is an area where we can improve on in support of the current administration’s projects such as the Build, Build, Build program,” said BOI Governor Napoleon Concepcion.

Also present in the Conference was the newly-appointed Anti-Red Tape Authority (ARTA) Deputy Director General (DDG) Atty. Ernesto Perez, who answered and clarified some of the attendees’ concerns and questions, particularly the possible overlap of the IPUNET’s responsibilities following the enactment of the Ease of Doing Business and Business and Efficient Government Service Delivery Act of 2018 or the RA 11032.

Member agencies of the IPUNET during the network’s 2018 Conference and Recognition Ceremony, where matters such as the new IPUNET Memorandum of Agreement (MOA) were discussed. The new MOA includes the streamlining and the facilitation of investment issues and concerns between member agencies, that will lead to an increased ease of doing business for both local and foreign investors.

If an existing regulation is determined by ARTA to be causing undue burden, then the ARTA will recommend the amendment or repeal of that law or regulation,” said DDG Perez. “Given that ARTA is not yet fully constituted, IPUNET can carry on with what it is doing at the present. When we reach that stage that what you are doing has become in line with the mandate of ARTA, that is the time to let go and pass on the responsibility to us,” he added.

During the latter part of the event, the BOI also awarded the member agencies with certificates of appreciation and recognition for their support and active participation in some of BOI’s investment projects, and seminars, which were held throughout the year in different areas of the country.♦

Date of Release: 14 January 2019