37 gov’t agencies commit to make trade, investments easier in PH

 37 gov’t agencies commit to make trade, investments easier in PH
Photo courtesy of BOI InfoComm

 37 gov’t agencies commit to make
trade, investments easier in PH

By THEPHILBIZNEWS STAFF

The government push for ease of doing business in the Philippines is zooming ahead with the amended Investments Promotion Units Network Memorandum of Agreement (IPU Net MOA) set to be signed tomorrow (July 10) at the Board of Investments (BOI) office in Makati City.

The IPU Net MOA is another step towards strengthening the collaboration among different executive departments and bureaus in a bid to streamline processes and establish seamless coordination among them to enhance trade and investments.

No less than 37 agencies of government fused their efforts in coming up with the IPU Net MOA in line with the aggressive thrust of the Duterte administration to facilitate ease of doing business and making the country more competitive in attracting investments.

Tomorrow’s landmark signing of the agreement, will be held at the BOI AVR, Penthouse, Industry and Investments Building, 385 Sen. Gil J. Puyat Avenue in Makati City.

The BOI, along with the Department of Trade and Industry (DTI), Investments Ombudsman (IO) and Civil Service Commission (CSC) are among the government agencies whose respective heads are participating in this renewal of commitment to further improve the business climate in the country.

It is expected that the IPU Net MOA Signing will pave the way for the delivery of frontline government services being monitored by the Anti-Red Tape Authority (ARTA) to ensure that delays and hindrances among business transactions and other related cases are immediately addressed.

The IPU Net MOA is aligned with the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 (Republic Act No. 11032) and as part of its mandate, ARTA will see to it that that government agencies comply by processing simple business transactions within three (3) days, complex processes within 7 (seven) days and highly technical ones within twenty (20) days.

“The IPU Net MOA complements the Ease of Doing Business Law. That is why the BOI and other related government agencies took upon themselves to ensure that investment related issues, concerns and queries (ICQs) are acted upon in the soonest time possible. This will further expedite the processing of applications for permits, licenses and other requests. With the signing of the newly enhanced Agreement, the agencies involved can now make a bigger difference that matter in the business climate,” Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said.

He added that “transparency and a closer collaboration and coordination among each other will trigger more investments into the country by providing government services that are at par with international standards.”

Due to the big increase in investment over the last three years more investment-related issues and concerns were raised to BOI, thus the importance of widening the scope of the MOA became a priority for the IPU Net by involving more agencies to provide a more expansive investments facilitation service.

Since April 25 2007, the IPUNet MOA has been a commitment from among the original twenty-seven (27) government agencies to sustain the efforts of the government in facilitating issues and concerns with prompt actions, streamlining of procedures and establishing a seamless coordination among its members to provide resolution on all investment-related transactions with efficiency. Since then, it has ballooned to 37 agencies involved.

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