"The Investments and Incentives Code of the Philippines." Rationale: Under existing laws, the administration, implementation and issuance of investment promotion programs, the issuance of policies relative thereto, as well as the grant of fiscal andnon-fiscal incentives to both foreign and domestic investors are being handled by various government agencies. The system of having different agencies administer and implement various incentive laws creates a perception among foreign investors thatthe Philippines does not have a unified and responsive investments promotion programs and policies. Hence, to establish a harmonized, simplified, uniform and consistent investment policies and programs to make the Philippines more competitive it is iimperative that only one governing statute regulate the incentives granted by the government. > This bill seeks to harmonize and simplify the government's administration of program and policies on the grant of fiscal and non-fiscal incentives to prom