THE Board of Investments (BOI) and the Housing and Land Use Regulatory Board (HLURB) have agreed to fast track the processing of applications of various housing permits, licenses and clearances to promote ease of doing business in the country, a BOI official said on Tuesday.
Trade Undersecretary for Industry Development and BOI Managing Head Ceferino Rodolfo said the two agencies signed a memorandum of agreement (MOA) late last year in order to further simplify business processes and requirements for housing and real estate projects and to make business transactions in the country more investor-friendly.
The MOA was signed by Rodolfo and HLURB Chief Executive Officer and Commissioner Antonio Bernardo.
“It is important that we offer a conducive business environment to investors, a place where they could quickly set up and process their business requirements. An important first step is to make it easy for them to comply with government requirements,” Undersecretary Rodolfo said.
“By simplifying business processes and requirements, we make a good signal to the business community and this would entice them to invest more housing projects in the country,” Rodolfo added.
Under the agreement, HLURB shall regularly provide BOI with copies of all relevant rules and guidelines, and standards on housing and real estates. It will also provide BOI with a checklist of all requirements related to Locational Clearances (LC), Development Permits (DP), and Certificates of Registration and License to Sell of subdivision and condominium projects.
The agreement also allows duly authorized BOI representatives to assist in the submission and follow up of housing-related applications of projects or transact on behalf of the BOI-registered enterprises including projects that are of economic and environment significance.
The collaboration with other relevant government agencies through agreements such as this is one of the initiatives of the BOI to further enhance its investment facilitation services to clients.
The agency, through its Investments Assistance Center, has signed agreements with the Department of Environment and Natural Resources, the Securities and Exchange Commission, Department of Tourism, Bureau of Food and Drug Administration, Department of Health-Health Facilities Regulatory and Services Bureau and the Department of Agriculture to help businesses set up businesses in the Philippines.
Economic and low-cost mass housing is one of the preferred activities in the current Investment Priorities Plan.
For 2016, investments approved by the BOI in the mass housing sector increased by 53 percent to P65.46 million from P43.95 million in 2015. These investments translate to 32,055 new jobs once these investment projects become operational, the BOI said.