The Public-Private Partnership (PPP) Center has signed the Investments Promotion Units Network (IPU Net) Memorandum of Agreement (MOA) on Friday, August 16, 2019, in an effort to make the country viable for greater number of investments.
The agreement is seen to improve the efficient delivery of government services nationwide by expediting investment transactions. Thirty-three (33) agencies that will sign the agreement must comply with Republic Act (RA) 11032, or the Ease of Doing Business Act, which states that basic complaints and queries must be processed in 72 hours, while technical transactions should be completed within 7 to 20 days, depending on task complexity. RA 11032, which was signed by President Rodrigo R. Duterte in May 2018, seeks to abolish bureaucratic red tape by abiding to a prescribed period of resolution.
Undersecretary and Executive Director Ferdinand A. Pecson signed the agreement on behalf of the PPP Center. Present also during the ceremony was Mr. Ernie de los Reyes from the Board of Investments (BOI).