10 June 2019
Published also in Business Mirror
THE Philippine Board of Investments (BOI), the country’s primary industry development and investments promotion agency (IPA), together with the 33 other members of the Investments Promotion Unit Network (IPUNet), has finalized the contents of a memorandum of agreement (MOA) seen to further improve the ease of doing business in the country and attract more investments by immediately acting and resolving issues encountered by investors.
At the IPUNet meeting conducted at the Great Eastern Hotel in Quezon City on May 24, 2019, 34 member-agencies committed to further collaborate and set the date of the MOA signing on July 10, 2019, with the heads of all the participating agencies expected to be on board for the ceremony.
The BOI, which serves as the IPUNet secretariat, through its Investment Assistance Service, presided over the review of the MOA and gathered the inputs and feedback of the participating government agencies. It was determined that the Anti-Red Tape Authority (Arta), as one of the new members of the network, will facilitate the issues not acted by concerned government agencies, as referred by the BOI-IAS.
“We have gained so much ground in our efforts to streamline our processes and procedures with the active participation of all stakeholders. As we finalized this, we look forward to the eventual signing of the MOA,” BOI-IAS Director Bobby G. Fondevilla said. The signing of the MOA is in accordance with Republic Act 11032 otherwise known as the “Ease of Doing Business and Efficient Delivery of Government Services Act” and Republic Act 6713,“An Act Establishing a Code of Conduct and Ethical Standards for Public Officials and Employees, to Uphold the Time-Honored Principle of Public Office Being a Public Trust, Granting Incentives and Rewards for Exemplary Service, Enumerating Prohibited Acts and Transactions, and Providing Penalties for Violations Thereof and for Other Purposes.”