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According to a Malacanang statement on Tuesday, President Ferdinand R. Marcos Jr. would soon sign an executive order (EO) establishing a “green lane” for strategic investments.

This came about when Marcos called a meeting at the State Dining Room of the Malacanang Palace in Manila with Trade Secretary Alfredo Pascual and other DTI officials.

According to a statement from Undersecretary Cheloy Garafil, officer-in-charge of the Office of the Press Secretary (OPS), “President Ferdinand R. Marcos Jr. will be signing an Executive Order to promote ease of doing business in the Philippines and make it competitive with other Southeast Asian nations in terms of attracting Foreign Direct Investments (FDIs).”

“Concerned offices will be required to construct a Green Lane to expedite and streamline the procedure and conditions for the issuing of permits and licenses, including resolutions of difficulties surrounding strategic investments,” she continued.

After identifying the regulatory agency barriers impeding the seamless entry of FDIs into the nation, the DTI presented Marcos with the proposed EO at the meeting.

Marcos supported the idea since he agreed that creating a “green lane” provides “huge benefits” for businesses.

That is a huge help, malaking bagay ‘yun. The issues with implementing the ease of doing business in the nation will be addressed right away by that, according to Marcos, who spoke with DTI officials at the meeting, according to the OPS.

According to Marcos, the government would be able to alter the “extraneous” and “obsolete” practices thanks to the proposed “green lane” policy.

Strategic purchases

According to Garafil, the proposed EO will apply to all national government agencies (NGAs), local government units (LGUs), quasi-judicial authorities, and their regional and provincial offices that issue the permits and licenses required for establishing strategic investments in the nation.

“Projects of national significance, highly desirable projects endorsed by the Fiscal Incentives Review Board (FIRB) and FDIs endorsed by the Inter-Agency Investments Promotion Coordination Committee (IAIPCC), or priority projects or activities under the Strategic Investment Priority Plan (SIPP), which are considered to be projects of national significance or highly desirable and may be endorsed by the Board of Investments (BOI) of the concern” are included in the strategic investments.

According to the EO, NGAs and LGUs must respond to a permit or license application within three working days for straightforward transactions, seven working days for difficult transactions, and 20 working days for highly technical transactions from the date of receipt.

Implementing the EO will be the responsibility of a technical working group led by the DTI’s BOI, according to Garafil.

According to her, a BOI-Investment Assistance Service (BOI-IAS) will serve as the exclusive point of entry for investments seeking the green lane services designated as highly desirable or projects of national significance.

According to current laws and regulations, “non-compliance with the EO’s requirements will be a reason for administrative and disciplinary punishment against any erring public officer or employee,” Garafil stated.

“More favorable” for commercial opportunities

According to a separate Facebook post from the Office of the President, the proposed green lane is essential to achieving the Marcos administration’s objective of making the Philippines “more favorable” to commercial possibilities.

Pascual requested during the meeting that a green lane be created for businesses to use to speed up the processing of their permit applications and other necessary paperwork.

According to the RTVM, “DTI Secretary Alfredo Pascual discusses the proposed establishment of an Executive Order (EO) on the provision of guidelines in facilitating the issue of permits and licenses for the implementation of strategic investments in the Philippines, as well as the creation of Green Lane.”

This applies to local government units (LGUs), quasi-judicial authorities, and national government agencies (NGAs), including, if appropriate, their regional and provincial offices.

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