Section 3Sec./Art. 3

Section 4 of R.A. No. 7042 is hereby amended to read as follows:

"Section 4. Inter-Agency Investment Promotion Coordination Committee. - There is hereby created the "Inter-Agency Investment Promotion Coordination Committee", hereinafter referred to as the "IIPCC", which shall be the body that will integrate all promotion and facilitation efforts to encourage foreign investments in the country. The Department of Trade and Industry (DTI) shall act as the IIPCC's lead agency. The IIPCC shall be composed of the:

(a) Secretary of the DTI, to preside as Chairperson;

(b) Secretary/Undersecretary of the Department of Finance (DOF) as Vice-Chairperson;

(c) One (1) representative from the DTI-Board of Investments (BOI);

(d) One (1) representative from the DTI-Philippine Economic Zone Authority (PEZA);

(e) One (1) representative from the Department of Foreign Affairs (DFA), Office of the Undersecretary for Multilateral Affairs and International Economic Relations (OUMAIER);

(f) One (1) representative from the National Economic and Development Authority (NEDA);

(g) One (1) representative from the Department of Information and Communications Technology (DICT);

(h) One (1) representative from the Commission on Higher Education (CHED);

(i) One (1) representative from the Technical Education and Skills Development Authority (TESDA); and

(j) Four (4) representatives composed of one (1) representative each from the National Capital Region, Luzon, Visayas and Mindanao, to be chosen from a list of nominees prepared and submitted by nationally recognized leading industry or business chambers, who shall be of known competence, probity, integrity and expertise in any of the fields of investment, advertising, banking, finance management and law, with at least ten (10) years of outstanding management or leadership experience.

The Chairperson may from time to time, as a particular foreign investment may require, request the participation of other government departments and agencies or instrumentalities, local government units (LGUs), nongovernmental organizations (NGOs) and local business chambers and enterprises.

The IIPCC shall coordinate and, when necessary, partner with and assist the Bases Conversion nd Development Authority (BCDA), Authority of the Freeport Area of Bataan (AFAB), Clark Development Corporation (CDC), Subic Bay Metropolitan Authority (SBMA), Cagayan Economic Zone Authority (CEZA), John Hay Management Corporation (JHMC), Poro Point Management Corporation (PPMC), Zamboanga City Special Economic Zone Authority (ZCSEZA), PHIVIDEC Industrial Authority (PIA), Aurora Pacific Economic Zone and Freeport Authority (APECO), Tourism Infrastructure and Enterprise Zone Authority (TIEZA) and all other similar existing authorities or that may be created by law, in promoting foreign investments to the country: Provided, That this shall not include the administration, design, and grant of fiscal incentives.

The BOI is designated as the secretariat of the IIPCC, implementing its policies and resolutions.