By  Tyrone Jasper C. Piad, June 5 2019; Manila Times

Image Credit to Business World

The Board of Investment (BoI) and 33 other members of the Investment Promotion Unit Network (IPUNet) are joining hands to enhance the ease of doing business (EoDB) in the country.

In a statement on Tuesday, the attached agency of the Department of Trade and Industry (DTI) said the parties will formalize the cooperation during the signing of the memorandum of agreement (MOA) on July 10.

BoI said they have “finalized the contents of a 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.”

BoI, which is serving as IPUNet secretariat, took the lead in reviewing the contents of the MOA and collated the concerns of the government agencies.

“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-Investment Assistance Service Director Bobby Fondevilla said in a statement.

In May last year, President Duterte signed Republic Act 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 to promote efficiency in processing government transactions. It took effect in June last year.

Under the EoDB law, government transactions should be processed within the prescribed period: simple business transactions should be completed within 3 working days, 7 for complex transactions and 20 for highly technical process.

The final draft of its implementing rules and regulations (IRR) has been submitted to the Office of Executive Secretary. The IRR though remained unsigned. A full-pledged director of the Anti-Red Tape Authority (ARTA) is supposed to do the signing but no such official has been appointment yet by Duterte amid the presence of a short list.

ARTA acting head Ernesto Perez said earlier he was seeking for authority to sign the IRR for its full implementation.