Signing of the Memorandum of Agreement (MOA) Between the Board of Investments (BOI) and Department of Tourism (DOT)

The Board of Investments – Investments Assistance Center (BOI-IAC) and the Department of Tourism – Office of Tourism Standards and Regulation (DOT-OTSR), recently entered into a Memorandum of Agreement (MOA) that will hasten the issuance of DOT endorsements to BOI applicants seeking incentives under the current Investment Priorities Plan (IPP). Under the 2014 IPP, Tourism enterprises that are outside the tourism enterprise zones (TEZs) are qualified for BOI-registration, and thus may avail of government incentives. Tourism activities under the 2014 IPP include:

 

  1. 1. Tourist Transport Services
  2. 2. Tourism- related Facilities
  3. 3. Retirement Villages
  4. 4. Restoration/preservation and operation of historical shrines, landmark, structures.

 

This MOA is the result of two months consultation between the BOI and DOT. In drafting the MOA, the two agencies took paramount consideration of the existing business requirements, processes and procedures, as well as the level and ease of compliance with the said requirements. The overall objective is to make investing in the Philippines easier, and thus more attractive to investors.

 

Director Maria Rica C. Bueno of the DOT signed for and in behalf of DOT, while Atty. Raul V. Angeles, Executive Director of the Investments Assistance Center (IAC) is the signatory for BOI.

 

Aside from facilitating business permits and licenses, this Agreement highlights the proactive coordination of both agencies to simplify rules, guidelines, and processes affecting investors. The MOA also allows point persons from both agencies to assist in the submission of necessary documents thereby keeping track of the status of these applications.

 

These MOA initiatives form part of BOI’s “Going the Extra Mile” project to provide high impact services for investors resulting in the retention of investments, expansion and/or diversification of its operations in the Philippines. DOT welcomes this program of BOI as it also has several on-going initiatives towards improving services to client/investors.

 

Last year 2014, March and September, the BOI also signed an agreement with the Department of Environment and National Resources (DENR-EMB) and the Food and Drugs Administration (FDA) for similar initiatives. This MOA with the DOT is the third to be signed by BOI.

 

For 2015, the BOI is eyeing similar agreements with select government agencies, specifically, on facilitation of business permits and licenses, i.e. SEC, DA and HLURB.