Two new government agencies joined the roster of the investments promotion agencies (IPAs) through a recent supplemental memorandum of agreement (MoA). The Tourism Infrastructure and Enterprise Zone Authority (Tieza) and Authority of the Freeport Area of Bataan (AFaB) are now included in the entire network of IPAs in the implementation of the the country’s marketing plan, the Philippine Investments Promotion Plan (PIPP).
To date, the IPAs total 13, including Tieza and AFaB, and the current PIPP member agencies — the Board of Investments, Philippine Economic Zone Authority, Bases Conversion Development Authority, Subic Bay Metropolitan Authority, Clark Development Corp., Philippine Retirement Authority, Phividec Industrial Authority, Aurora Special Economic Zone Authority, Cagayan Economic Zone Authority, Zamboanga City Special Economic Zone Authority and Freeport and the Regional Board of Investments of the Autonomous Region in Muslim Mindanao.
The MoA formalizes the collaborative arrangement with both agencies to become part of the PIPP oversight structure, particularly as members of the steering committee (SC) and technical working group (TWG). The agreement signing was held in the presence of the PIPP steering committee, BoI, Tieza and AFaB officials.
AFaB chairman Deogracias Custodio said is extremely important that promotion agencies work together to further beef up development in terms of vision to promote a holistic business environment.
On the other hand, Tieza chief operating officer Mark Lapid said Tieza’s inclusion in the PIPP will help the agency market the niche for the infrastructure development in the tourism sector.
Last June 23, IPAs have completed and launched the medium-term national marketing plan dubbed as the PIPP to steer the Philippines through the tides of globalization and prime up capital inflows into the economy.
The IPAs unfolded the plan as its commitment to laydown the groundwork for sustainable investments and ensuring favorable business climate in the Philippines.
The PIPP is a blueprint for all IPAs to synchronize strategies in investment promotion. As a medium-term marketing development plan covering 2010-2014, this document lays down the strategies to achieve a world-class brand image for the country within the intertwined approaches of image building, investment generation and investment servicing.
“More than created synergy, the PIPP is the synergy that emerges from various IPAs. If you chase the butterfly it rides away on the wind, but if you stand still in the right place the butterfly will come to you. With the PIPP in place, of course, including TIEZA and AFAB, marketing the Philippines as an investment destination will never be tough.” Trade and Industry Undersecretary and BOI managing head Cristino Panlilio said.
Through the PIPP, the IPAs investment promotion efforts will be harmonized thus maximizing the use of the country’s marketing resources. It will also carry out focused promotional approaches in informing the international business community of the Philippine investment landscape and unique investment potentials.
In May 2009, top executives of the country’s various IPAs gathered at the penthouse of the Board of Investments and signed a Memorandum of Agreement that set up the mechanism for developing the 2010-2014 PIPP. The signing of MOA signified the commitment to undertake an integrated investment promotional approach that will provide a multi-agency perspective and comprehensive view of the wide array of issues and concerns that beset the current system.
Through representations made by the Board of Investments late last year, the Japan International Cooperation Agency (JICA) provided the needed technical support. JICA mobilized the technical expertise of Nomura Research Institute (NRI) for the preparation and completion of the PIPP. –Ayen Infante, Daily Tribune
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