On February 24, the Marcos administration issued Executive Order (EO) 18, establishing “green lanes” for strategic investments in government offices to further attract foreign investments. The order signals a whole-of-government approach in fast tracking the permits and licenses needed in putting up businesses in the country. Strategic investments are defined as investments with significant capital or investment to the country, consequential economic impact, positive impact on the environment, significant contribution to the country’s balance of payments, complex technical processes & engineering designs, and will improve the country’s infrastructure capabilities that are aligned with the country’s development plans (see Philippine Development Plan and Strategic Investment Priority Plan). Under the EO, all national government agencies, government-owned and controlled corporations (GOCCs), local government units (LGUs), and other government instrumentalities involved in issuing permits, licenses, certifications, and authorization, will adopt measures that will expedite transactions within the government. Under the scheme, involved government agencies will have 3 to 20 days from the date of application to issues business permits and licenses, depending on the project’s complexities. The Department of Trade and Industry (DTI) and the Board of Investments (BOI) will be tasked to launch a One-Stop-Action-Center (within 6 months) that will serve as the single point of entry for all strategic investments. The center will be in-charge of addressing investor concerns, producing a guidebook on government requirements, and providing post-investment assistance. Similarly, the Department of Information and Communications Technology (DICT) and the Department of Interior and Local Government (DILG) will focus on upgrading LGUs’ business permit and licensing systems. A Technical Working Group (TWG) will be formed to ensure the smooth implementation of the EO. The DTI-BOI will head the TWG, and its member agencies will include the DILG, Department of Finance (DOF), National Economic and Development Authority (NEDA), and the Anti-Red Tape Authority (ARTA).
The scheme is part of the government’s continuing efforts to implement ease of doing business reforms and its overall strategy to increase foreign investments, which saw a decline from 2021 because of high inflation, a weakening peso, and global economic slowdown. Furthermore, the EO complements the country’s efforts to facilitate a robust economic recovery and expansion and will help realize the investment pledges from President Marcos’ foreign trips. According to the Malacañang, the recent foreign trips secured some PHP 3.4 trillion in investment pledges.
