BOI and ERC sign MOA to boost investment facilitation

The Philippine Board of Investments (BOI) and the Energy Regulatory Commission (ERC) have signed a Memorandum of Agreement (MOA) to enhance investment facilitation through collaboration.

The agreement was formalized on May 20, 2024, at the BOI Main Office in Makati City.

The MOA aims to address investor concerns related to energy, power consumption, and connectivity, recognizing the importance of energy security for economic sustainability. This collaboration seeks to effectively and efficiently resolve issues in the electric power industry, addressing concerns from BOI clients.

Trade Undersecretary and BOI Managing Head Ceferino Rodolfo highlighted the significance of investment facilitation in generating investments in the Philippines.

“Partnership with ERC is crucial for the BOI, especially as the world transitions to green energy,” Rodolfo said in a press statement.

ERC Chairperson and CEO Monalisa C. Dimalanta pointed out the proactive role of the ERC in regulating the electric power industry.

“We appreciate this collaboration because we know this is how we can contribute to fostering a positive business climate in the Philippines,” Dimalanta said, underscoring the synergy between the two agencies.

Executive Director Bobby Fondevilla of the BOI’s Investments Assistance Center (IAC) acknowledged the importance of the MOA for information sharing to identify and address bottlenecks, facilitating strategic partnerships.

“It is necessary to execute this MOA, as it is essential to understand how we perform our functions,” Fondevilla said, highlighting the whole-of-nation approach in addressing investor concerns.