What's New

Philippines to set up "green lanes" to streamline FDI procedures
Kind: ICD What's New  Organization: Department of International Cooperation  Publish Date: 2023-03-09 16:50
Philippine President Ferdinand Marcos Jr. has issued an executive order for the establishment of "green lanes" at all government agencies to streamline the processing of permits and licenses for "strategic investments" in a bid to attract greater foreign investment.

The executive order, signed by the president on Feb. 23, 2023, applies to all levels of government down to the local level, as well as to state-owned and controlled corporations.

Strategic investments are defined as those aligned with the Philippine Development Plan or any similar national development plan. The investments "can be characterized by the 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 executive order, the Department of Trade and Industry's Board of Investments (DTI-BOI) is directed to establish a One-Stop-Action-Center for Strategic Investments, which will serve as the single point of entry for all projects qualified as strategic investments.

The executive order directs the DTI, the Department of Information and Communications Technology and the Department of the Interior and Local Government to provide technical assistance in the planning and implementation of a computerized or software-enabled business permit and licensing system at the relevant government agencies.

The processing for the issuance of a permit or license should not be longer than three working days for simple transactions, seven working days for complex transactions and 20 working days for highly-technical transactions upon receipt of the complete application. The processing period may be extended only once for the same number of days, while denial of such application should be made in writing within the same prescribed time.

The DTI-BOI is also directed within three months of issuance of the executive order to produce and regularly update an investor manual or guidebook or its equivalent, containing the list of government requirements for the establishment of strategic investments per sector, as well as a list of the government agencies issuing relevant permits and licenses.

DTI Secretary Alfredo Pascual said the executive order emphasizes the importance of improving the ease of doing business in the Philippines, which will help promote economic growth.

Meanwhile, Tereso Panga, director general of the Philippine Economic Zone Authority said the PEZA has implemented a one-stop service to assist foreign investors in obtaining relevant licenses so as to provide greater convenience and facilitation.

Sources: Economic Division, Taipei Economic and Cultural Office in the Philippines; Philippine News Agency

Update: 2020-04-23
Go Back Top
Department of International Cooperation
No.15, Fuzhou St., Zhongzheng Dist., Taipei City 100210, Taiwan (R.O.C.)
The site has been optimized for monitors with over 1024x768 resolution, with window maximized.
Best browse supported with Chrome, Edge, Safari and Firefox.
Government Website Open Information Announcement | Privacy Policy | Security Policy MNS2