CEBU, Philippines - Investors can now lodge queries and access information regarding business and investments through the new online inquiry facility of the Board of Investments (BOI), the Department of Trade and Industry (DTI) says.
The BOI, an attached agency of the DTI, is setting-up the One Window Network (OWN) to enable investors to lodge concerns online, as well as to access a databank of information related to business and investments.
A cloud-based web portal and mobile application system, the project also includes a system that can track and monitor the real time status of investor’s inquiry and concerns using personal computers or smart phones.
With the One Window Network (OWN), the DTI and BOI expect to improve business transactions with the government, and attract more investors to support the country’s goal of sustainable and inclusive growth.
A government-to-government project of the BOI and the University of the Philippines Information Technology Development Center (UP-ITDC), BOI-OWN is expected to hasten government agencies’ resolution of investor issues and concerns.
According to DTI, the BOI project intends to improve the efficiency of delivering government frontline services by putting in place a cloud based web portal that contains business procedures, policies, and requirements; establishing online investment assistance for investor queries and complaints; and providing mechanisms for the monitoring of government’s compliance to Anti-Red Tape Act (ARTA) of 2007.
As soon as BOI-OWN is formally in place, DTI hopes to generate the necessary mileage with timely and highly impactful services that are at par with international standards of investor awareness and facilitation.
OWN was conceptualized by BOI Investment Assistance Service (IAS) and developed with the close collaboration of the University of the Philippines’ Information and Telecommunications Development Center (UP-ITDC).
Knowing the importance of investment servicing and facilitation for both domestic and foreign investors in making investment decisions, DTI has been striving to put mechanisms to ensure predictability, transparency, and accountability of business transactions in the country.
Taking the lead in the promotion of investments, BOI assists Filipino and foreign investors to venture and prosper in desirable areas of economic activities. Investors are welcome to experience the potentials of the booming Philippine Industry sectors. Profitable business opportunities abound in the food processing, construction, metal products, telecommunications, power and infrastructure projects among others. (FREEMAN)