Board of Investment, 33 other government agencies set to sign agreement to further improve ease of doing business in the Philippines

Board of Investment, 33 other government agencies set to sign agreement to further improve ease of doing business in the Philippines
Photo Courtesy of Board of Investment Philippines

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) that is 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 recently (May 24, 2019), 34 member agencies committed to further collaborate and already set the date of the signing of the MOA 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, thru its Investment Assistance Service (IAS), presided 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 No. 11032 otherwise known  as the “Ease of Doing Business and Efficient Delivery of Government Services Act” and Republic Act 6713 otherwise known entitled “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.”

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