Green lanes for investments
ONE of the primary goals of the Marcos administration is to grow the Philippine economy. To grow the economy, the country needs investments to fuel business activities.
But some investors face challenges in acquiring licenses and permits, a concern the government is seriously addressing. Just recently, President Marcos delivered the good news that would surely delight many investors.
The Chief Executive announced that the green lanes for strategic investments are now running in national government agencies (NGAs) and local government units (LGUs) where securing of licenses and permits for critical investment projects will be expedited.
In fact, the President led the launching of the Green Lanes for Strategic Investments, a program established through Executive Order No. 18 he signed in February 2023.
Explaining further, the Trade Department said the EO aims to expedite, streamline, and automate government approval and registration process of priority investments and strategic investments.
It said strategic investments are those in line with the Philippine Development Plan 2023-2028.
Hopefully, the green lanes will help the country realize the P3.5 trillion in investment leads from the recent foreign trips of Marcos and his economic team in Singapore, Indonesia, the United States, Japan, China, Thailand and Europe.
The establishment of these green lanes is meant to support the investment leads that we have been accumulating from our investment missions,” Trade Secretary Alfreo Pascual said.
Through the EO, a One-Stop-Action-Center for Strategic Investments (OSAC-SI) will be established at the Board of Investments (BOI), which will serve as the single point of entry for all projects qualified as Strategic Investments.
These green lanes will also help the BOI hit its P1.5 trillion target of investment approvals for 2023.
Investors with projects considered as strategic investment should come to the BOI to get its Certificate of Endorsement to be presented to NGAs and LGUs to expedite the processing of their permits and licenses.
The current administration indeed gives priority on ease of doing business as it listens to the concerns of the prospective investors.
Lending ears to the bearer of commerce and business will truly pave the way for the realization of many investments.
