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Advocates Philippines
Green Lanes for Investments OKd by PBBM
Photo credit: PBBM
The administration of President Ferdinand R. Marcos Jr. has issued an executive order ordering the establishment of Green Lanes for strategic investments in government offices in a bid to promote the Philippines as a top investment destination.
Executive Order No. 18, dated February 23, 2023, covers all national government agencies and their regional and provincial offices, government-owned and controlled corporations, and other government instrumentalities, as well as local government units involved in the issuance of permits, licenses, certifications or authorizations covering Strategic Investments.
Strategic investments are defined as those which are aligned with the Philippine Development Plan or any similar national development plan and can be characterized by 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.
Within six months from the issuance of the EO, the Department of Trade and Industry-Board of Investments (DTI-BOI) will establish a One-Stop-Action-Center for Strategic Investments (OSAC-SI), which will serve as the single point of entry for all projects qualified as strategic investments.
The OSAC-SI will address investor concerns such as identifying strategic investments and will include aftercare or post-investment assistance as part of its services.
The DTI-BOI, within three months from the issuance of the order, will produce and regularly update an investor manual or guidebook containing the list of government requirements for the establishment of strategic investments per sector, as well as the concerned NGAs, LGUs, or quasi-judicial bodies issuing relevant permits and licenses.
A Technical Working Group (TWG), which will 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.
The move is 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, said President Marcos in the EO.
Executive Order No. 18, dated February 23, 2023, covers all national government agencies and their regional and provincial offices, government-owned and controlled corporations, and other government instrumentalities, as well as local government units involved in the issuance of permits, licenses, certifications or authorizations covering Strategic Investments.
Strategic investments are defined as those which are aligned with the Philippine Development Plan or any similar national development plan and can be characterized by 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.
Within six months from the issuance of the EO, the Department of Trade and Industry-Board of Investments (DTI-BOI) will establish a One-Stop-Action-Center for Strategic Investments (OSAC-SI), which will serve as the single point of entry for all projects qualified as strategic investments.
The OSAC-SI will address investor concerns such as identifying strategic investments and will include aftercare or post-investment assistance as part of its services.
The DTI-BOI, within three months from the issuance of the order, will produce and regularly update an investor manual or guidebook containing the list of government requirements for the establishment of strategic investments per sector, as well as the concerned NGAs, LGUs, or quasi-judicial bodies issuing relevant permits and licenses.
A Technical Working Group (TWG), which will 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.
The move is 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, said President Marcos in the EO.
Feb 24, 2023
