The Market Monitor Minding the Nation's Business
The Philippine Board of Investments (BOI) has signed a Memorandum of Agreement with the Housing and Land Use Regulatory Board (HLURB) seeking to fast track the processing of applications of various housing permits, licenses and clearances such as Locational Clearance (LC), Development Permit (DP), Certificate of Registration, and License to Sell of subdivision and condominium projects.
Signed by Trade Undersecretary for Industry Development and BOI Managing Head Ceferino Rodolfo and HLURB Chief Executive Officer and Commissioner Antonio Bernardo late last year, the agreement further simplifies business processes and requirements for housing and real estate projects, thereby promoting ease of doing business in the country and making business transactions more investor-friendly.
“It is important that we offer a conducive business environment to investors, a place where they could quickly set up and process their business requirements. An important first step is to make it easy for them to comply with government requirements,” Undersecretary Rodolfo said. “By simplifying business processes and requirements, we make a good signal to the business community and this would entice them to invest more housing projects in the country,” he said.
Under the agreement, HLURB shall regularly provide BOI with copies of all relevant rules and guidelines, and standards on housing and real estates. It will also provide BOI with a checklist of all requirements related to LCs, DPs, CRLS of subdivision and condominium projects.
The agreement also allows duly authorized BOI representatives to assist in the submission and follow up of housing-related applications of projects or transact on behalf of the BOI-registered enterprises including projects that are of economic and environment significance.
HLURB shall also issue BOI applicants a certified true copy of the annotated LS signed by the Regional Director containing the following: annotations on the computation of the social housing compliance required by law; details of amendments pertaining to number of house and lot packages, and lots only that are for sale; and in cases where the LS presented to BOI by the firm does not contain details, a subsequent Certification can be issued by the HLURB to applicant firms within five working days upon filing of an application.
The BOI, in turn, shall assist its registered business enterprises in the submission and follow up on the applications for LC of projects including the applications for DP and CRLS of subdivision and condominium projects. The agency shall also assist HLURB in disseminating information to BOI-registered enterprises on the requirements for availing LCs, DPs, and CRLS.