MANILA — President Ferdinand Marcos, Jr. has ordered the creation of green lanes in government offices and a "One Stop Action Center" to ease the entry of strategic investments into the country.
Marcos, in Executive Order No. 18 signed on Thursday, directed the Department of Trade and Industry – Board of Investments to set up the One Stop Action Center for Strategic Investments (OSAC-BI) within 6 months.
It will serve as "the single point of entry for the projects qualified under the strategic investments", address investor concerns, produce a guidebook on government requirements, and provide "aftercare or post-investment assistance", Marcos said.
He also ordered the creation of green lanes that will be "in charge of expediting and streamlining the processes and requirements for the issuance of permits and licenses" of investments endorsed by the OSAC-BI.
Marcos directed the Department of Information and Communications Technology (DICT) to make the computerization software for licensing and business permits available to local government units. The interior department will help the DICT on this.
The executive order covers "highly desirable projects, foreign direct investments, and projects under the government's Strategic Investment Priority Plan."
It aims to "promote the Philippines as a top investment destination," the Presidential Communications Office said.
"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 order reads.
Marcos, in his recent foreign trips, sought foreign investments, of which at least P239 billion worth of projects have "materialized." He recently sought the help of the trade department to address challenges in the entry of investments.
"Marami kaming nakita na kailangang baguhin, yung ating mga rules and regulations, kung minsan ay hindi masyado sympathetic sa mga investor," he recently said.
(We saw many things that need to be changed. Our rules and regulations are sometimes not too sympathetic with investors.)