DOF, attached agencies join IPU Net initiative

MANILA, Philippines — The Department of Finance (DOF) and four of its attached agencies yesterday joined an inter-agency initiative that seeks to improve ease of doing business and raise the country’s competitiveness as an investment destination.

According to the DOF, Finance Secretary Carlos Dominguez, Bureau of Internal Revenue (BIR) Commissioner Caesar Dulay, Bureau of Customs (BOC) Commissioner Rey Leonardo Guerrero and Bureau of Local Government Finance (BLGF) executive director Niño Alvina and Securities and Exchange Commission (SEC) chairman Emilio Aquino yesterday signed the memorandum of agreement (MOA) for the new Investment Promotions Unit Network (IPU Net).

They are joining the Bureau of Investments (BOI) and 30 other agencies who also signed the agreement last July 10. 

With the signing of new IPU Net MOA, the 36 agencies committed to “efficiently and swiftly” resolve issues raised by investors to avoid delays in the processing of business permits and licenses, the DOF said. 

The MOA states that agencies should act on issues and concerns within 72 hours from the receipt of the complaint or query, but not later than 15 days.

It also aims to promote the use of the One Window Network (OWN) of the BOI and other online facilitation systems to fast-track the submission of investment-related issues, concerns and queries. 

The new IPU Net MOA also covers pre-investment and post-investment assistance and services to investors to support the retention and expansion of their projects. 

BOI investment assistance service director Bobby Fondevilla said the IPU Network has been processing queries and concerns, mostly from investors under the Philippine Economic Zone Authority (PEZA). 

An IPU Network MOA was first signed on April 25, 2007 among the BOI and 26 other government agencies. 

The 2007 agreement created the IPU Network and endorsed complaints and issues raised by investors to the Investment Ombudsman or the Civil Service Commission (CSC). 

With the new MOA, complainants can either go to the BOI, which will  endorse them to the Anti-Red Tape Authority (ARTA) for appropriate action, or directly proceed to the ARTA. 

The ARTA, in turn, will facilitate the investigation and recommend the filing of the complaint with either the Ombudsman or CSC.