The Philippines, through the Board of Investments (BOI) will host the 68th Meeting of the Coordinating Committee on Investments (CCI) in Panglao, Bohol next week (22-24 June 2016).
The CCI, which meets twice a year, discusses matters relating to the four Pillars of the ASEAN Comprehensive Investment Agreement (ACIA), i.e., Investment Promotion, Facilitation, Protection and Liberalization. Based on these pillars, the CCI implements programs and activities which will contribute to making ASEAN as a hub for investments. In turn, the Philippines as part of ASEAN can take advantage of this in light of the government’s efforts to make the Philippines as a premier investment destination.
As part of the Agenda, Philippines will discuss the proposed key deliverables of the CCI in line with the country’s Chairmanship of ASEAN in 2017. The proposal aims to further contribute to the attainment of the regional goal of promoting intra-ASEAN investments and ASEAN as the investment location for global investors. In particular, the Philippines’ proposal will involve activities that will support the participation of Micro Small and Medium Enterprises (MSMEs) in the regional value chain. The proposal also includes the assessment of the different ASEAN Member States’ (AMS’) requirements in business registration with the end view of harmonizing such requirements within ASEAN.
The ACIA is ASEAN’s instrument aimed at ensuring the free flow of investments within ASEAN in support of the goals of an integrated ASEAN Economic Community (AEC). The Agreement took effect in March 2012 and has since then been the AMS’ guide in undertaking initiatives in promoting investments into ASEAN.
The CCI is ASEAN’s technical body which oversees the implementation of ACIA and provides technical support to the ASEAN Investment Area (AIA) Council and the ASEAN Economic Ministers (AEM) on investment matters.
The Philippines is represented by BOI Executive Director for Industry Development Services Ma. Corazon Halili-Dichosa with Ms. Fe L. Del Rosario, Division Chief, Investments Policy and Planning Service (IPPS) as alternate Philippine Lead.
The Philippines’ last hosting was in April 2012 for the 56th CCI Meeting which was held in Puerto Princesa, Palawan.