Question & AnswerQ&A (EXECUTIVE ORDER NO. 224)
The main purpose is to rename the Quick Response One Stop Action Center for Investments (QROSACI) to the One Stop Action Center (OSAC), revert it to the Board of Investments (BOI), and to delineate the Office of the Investment Ombudsman (OIO) as an office attached to the Department of Trade and Industry (DTI) for administrative supervision and policy coordination.
The OSAC is an office under the Board of Investments (BOI).
The original name was the One Stop Action Center (OSAC).
The OIO assists current and potential investors by addressing complaints against government departments, offices, and agencies related to investment functions, ensuring that operations of local and foreign investors are not impeded.
The Office of the Investment Ombudsman is attached to the Department of Trade and Industry (DTI).
EO No. 224 amends EO No. 180 by renaming QROSACI back to OSAC and delineating the OIO's status as an office attached to the DTI, thereby clarifying administrative supervision and policy coordination.
The BOI administers the One Stop Action Center, and the OSAC supports BOI's investment promotion efforts.
The Investment Ombudsman started functioning on December 1, 1999.
Because investors, particularly foreign investors with large investments, demand that complaints are addressed promptly to prevent impediments to their operations, especially exports.
Section 3 repeals all issuances, orders, rules, and regulations or parts thereof inconsistent with the provisions of EO No. 224.
EO No. 224 took effect immediately on April 3, 2000.