Mr. A. Lewis Burridge

July 29, 1981 Mr. A. Lewis Burridge Philippine Association of Multinational Companies' Regional Headquarters, Inc. 6/F Salamin Building, Salcedo St. Legaspi Village, Makati, MM Dear Mr. Burridge: This is in connection with your letter dated June 24, 1981 relative to the simple time-motion study conducted by the Philippine Association of Multinational Companies' Regional Headquarters, Inc. (PAMURI) on the flow of P.D. 218 applications enclosing therein a capsulized step-by-step comparison of the existing flow and that which PAMURI proposes. LexLib Under your proposal, approximately six (6) days may be saved in the flow or processing of application of multinational companies for the establishment of its regional or area headquarters in the Philippines, as compared to the fourteen (14) days approximately consumed before a license is issued by the SEC to the registrant or applicant. This Office finds your proposal more simplified and would better serve public interest. However there is a need to coordinate first with the Ministry of Trade on the implementation of your proposal. Likewise the existing Rules and Regulations to implement Presidential Decree No. 218 "Prescribing Incentives for the Establishment of Regional or Area Headquarters of Multinational Companies in the Philippines" must be amended or revised in such a way that the application papers of multinational companies to be filed with the SEC mentioned in Section 2 A and B should already be accompanied by the favorable recommendation (Memo and Order) of the Ministry of Trade. Please be advised accordingly. llcd Very truly yours, (SGD.) ROSARIO N. LOPEZ Director Corporate and Legal Department