The Philippine Board of Investments (BOI), in its aim to make investment assistance and facilitation more seamless, is jumpstarting the establishment of its One-Stop Action Center (OSAC) with the conduct recently (May 4, 2022) of a capacity-building training program for its Investment Specialists.  The agency invited experts and resource persons from the Securities and Exchange Commission (SEC) to conduct the face-to-face training. 

Aimed at strengthening and sustaining the country’s competitiveness for investments, the orientation had an objective to speed up the facilitation of investments through a whole-of-government approach. Such initiative is in anticipation of the influx of  Foreign Direct Investments (FDIs) and domestic business expansions because of the reforms ushered in by the amendments to the Public Service Act (PSA), Retail Trade Liberalization Act (RTLA), and Foreign Investment Act (FIA).   

The BOI, the country’s lead investment promotion agency (IPA), organized the training as it is about to launch the BOSS (BOI’s Online Services System), a platform where clients and stakeholders can transact with the agency for various services such as application for Project Registration, application for availing of selected incentives, submission of Reports, application for Endorsement, among others.   

The establishment of the OSAC complies with a provision of Republic Act (RA) 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act which mandates all the country’s IPAs to establish an OSAC to “facilitate, expedite, and provide” seamless investor assistance and facilitation services to further bolster the ease of doing business in the Philippines.   

As a partner of BOI in the facilitation of issues, concerns, and queries (ICQs), the SEC discussed and presented its One-Day Submission and Express Registration of Companies (OneSEC) system, process, and procedures.  The OneSEC is the Commission’s platform in the registration of an enterprise on line.  The speakers from the SEC, Ms. Blesilda Arceo, Supervising Securities Specialist; Ms. Mary Grace Terrado, Securities Specialist II; and Ms. Ronalyn Puatu-Suguitan, Accountant II, discussed the OneSEC system and answered questions from the participants regarding the said platform.    

In his remarks, BOI Director for Investment Assistance Ernesto Delos Reyes said that SEC has been a staunch partner of the BOI in its endeavor for fast and convenient processes for the investors and stakeholders.    

“Talagang masigasig po sila sa pagtulong para sa potential at even existing investors [They [SEC] have been relentless in helping us to facilitate transactions with our potential and existing investors],” said Director Delos Reyes.    

The BOI official underscored that the OneSEC provides convenience in transactions with the investors. For him, the BOI employees’ participation at the said event was significant, as the One-Stop-Shop (OSS) is part of the Ease of Doing Business (EODB) advocacy that will be truly advantageous to the stakeholders of the BOI.    

“Itong training na ito hindi lang para sa IAS. Bakit isinama namin ang ilang frontline service ng BOI? Kasi minsan sila rin tinatanong. Ano ba yung OneSEC? Paano ba mag-register? [This training is not only for the IAS. Why did we include other frontline services of the BOI? Because BOI other frontliners are also  asked about this particular platform. What’s OneSEC? How to register?],” the BOI official said.    

Director Delos Reyes said that the training was imperative for the BOI employees so that they could properly and effectively answer queries from the investors.   

“Mas matutuwa ang mga investors dito. Patuloy lang itong ginagawa ng BOI to capacitate ang ating frontliners at very thankful po talaga ako ang bilis sumagot ng SEC [Investors will be happier with this. The BOI will continue to capacitate our frontliners, and I am thankful to the SEC for their swift response to our queries],” he added.   

Such an innovative way, the BOI official stressed, will indubitably accelerate investments in the country and provide jobs for many Filipinos.  

“Malaking tulong itong OneSEC na ito kauna-unahan na ginagawa ng negosyante in doing business ang kanilang irehestro ang negosyo sa BOI o SEC [OneSEC is a huge help for us because businessmen always register to BOI or SEC first before they do business,” he said.    

“Let’s make it happen in the Philippines,” Director Delos Reyes said, “kaya dapat ang serbisyo natin sa pagnenegosyo ay ramdam ng lokal at dayuhan na mamumuhunan. [Our service should be felt by local and foreign investors].”    

For the closing remarks, Ms. Terrado emphasized the significance of an enhanced collaboration between the two agencies to foster better services for the investors. (BOI)