ERC, BoI sign investment facilitation deal

By Sheldeen Joy Talavera – May 22, 2024 | 8:44 pm
from Business World

MOREPOWER.COM.PH

THE Energy Regulatory Commission (ERC) and the Board of Investments (BoI) signed a memorandum of agreement (MoA) designed to facilitate investment via inter-agency collaboration.

In a statement, the ERC said the two parties have undertaken to address concerns raised by investors about energy, power consumption, and connectivity.

The Commission said that the partnership aims to “effectively and efficiently” address issues in the electric power industry and concerns from BoI clients.

“We appreciate this collaboration because we know this is how we can contribute to fostering a positive business climate in the Philippines,” ERC Chairperson and Chief Executive Officer Monalisa C. Dimalanta said.

The MoA marks the beginning of more collaboration in the interest of encouraging investment, the ERC said.

“It is necessary to execute this MoA, as it is essential to understand how we perform our functions,” BoI Investments Assistance Center Executive Director Bobby G. Fondevilla said.

Mr. Fondevilla said that the partnership will make doing business easier for investors.

“It aligns with the government’s policy to sustain efforts to improve the business environment through streamlined procedures and close coordination among government agencies involved in investments and addressing investors’ issues and concerns,” the ERC said.