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PBBM orders ‘green lanes’ for strategic investments

President Ferdinand Marcos Jr. ordered the creation of green lanes in government offices in order to promote the Philippines as a “top investment destination.”

FESTIVAL. President Ferdinand Marcos Jr. graces the festivities of the ‘Tan-ok ni Ilocano 2023: The Festival of Festivals’ at the Ferdinand E. Marcos Sr. Memorial Stadium in Laoag City, Ilocos Norte on Friday February 24, 2023. 

In Executive Order No. 18, the President said there was a need to ensure the country’s regulatory environment is conducive to business operations to encourage investors to engage in strategic investments.

“Consistent with the Eight-Point Agenda of the administration and as part of the continuing efforts of implementing ease of doing business reforms, it is imperative to adopt measures that will expedite transactions with the government,” the President said in the order.

EO 18 covers all national government agencies (NGAs) and their regional and provincial offices, government-owned and controlled corporations (GOCCs) and other government instrumentalities, as well as local government units (LGUs), involved in the issuance of permits, licenses, certifications or authorizations (collectively referred to herein as ‘permit/s and/or license/s’) covering strategic investments.

The said green lane shall not duplicate the existing one-stop shops or one-stop action centers established through existing laws, the order said.

Under EO 18, strategic investments include those which are aligned with the Philippine Development Plan or any similar national development plan and can be characterized by the significant capital or investment to the country; consequential economic impact; positive impact on the environment; significant contribution to the country’s balance of payments; with complex technical processes and engineering designs; and will improve the country’s infrastructure capabilities.

Strategic investments will also include highly desirable projects, foreign direct investments and projects or activities under the Strategic Investment Priority Plan.

The latest directive also tasked Department of Trade and Industry-Board of Investments (DTI-BOI) to establish a One-Stop-Action-Center for Strategic Investments (OSAC-SI) to serve as the single point of entry for all projects qualified as strategic investments within six months from the issuance of the EO.

Mr. Marcos likewise directed the DTI-BOI, within three months from the issuance of the order, to produce and regularly update, an investor manual or guidebook or its equivalent, containing the list of government requirements for the establishment of strategic investmentsper sector, as well as the concerned NGAs, LGUs or quasi-judicial bodies issuing relevant permits and licenses.

“The DTI-BOI will be supported with additional manpower, including the designation of Account Officers for Strategic Investments, as well as equipment necessary to operationalize the OSAC-SI, in coordination with the Department of Budget and Management,” the President said in the EO.

A technical working group (TWG) which would be headed by the DTI-BOI will be formed to ensure the implementation of the EO. Member-agencies of the TWG include the DTI, DILG, Department of Finance, National Economic and Development Authority and the Anti-Red Tape Authority.

Credit belongs to : www.manilastandard.net

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