Marcos to sign EO on ease of doing business

President Ferdinand "Bongbong" Marcos Jr. is set to sign an executive order (EO) that will promote ease of doing business in the Philippines, including processing simple transactions not longer than three working days, Malacañang said Tuesday.

During a meeting at the State Dining Room, Trade and Industry Secretary Alfredo Pascual proposed the creation of an executive order about the provision of guidelines that will expedite processing of permits for strategic investments into the country and the creation of a Green Lane.

The EO will mandate concerned offices to establish a Green Lane, which will "expedite and streamline the process and requirements for the issuance of permits and licenses, including resolutions of issues concerning strategic investments."

“Malaking bagay ‘yun. That will address immediately ‘yung tinatawag na ease of doing business na laging nirereklamo sa atin (That's a huge thing. That will address immediately the complaints we receive regarding ease of doing business),” said Marcos.

"Until we get to change the procedures... and to say that... baka ito hindi na kailangan, baka ito extraneous na ito, ito obsolete na ito, ganyan. You cut it down as much as we can,” the President added.

It will mandate national government agencies and local government units to act on a permit or license application not longer than three working days in the case of a simple transaction, seven working days in the case of complex transactions, and 20 working days for highly technical transactions from the date of receipt.

The proposed EO will cover all national government agencies and their regional and provincial offices, local government units, and quasi-judicial bodies involved in issuing permits and licenses necessary for establishing strategic investments in the country.

Among the strategic investments identified by the DTI were projects of national significance, highly desirable projects endorsed by the Fiscal Incentives Review Board (FIRB) and FDIs endorsed by the Inter-Agency Investments Promotion Coordination Committee (IAIPCC) or priority projects or activities under the Strategic Investment Priority Plan (SIPP), which are considered as projects of national significance or highly desirable that may be endorsed by the Board of Investments (BOI) of the concerned Investment Promotion Agencies (IPAs).

The Palace said a technical working group headed by the DTI’s BOI would enforce the EO and a BOI-Investment Assistance Service (BOI-IAS) will serve as the single point of entry of investment availing of the Green Lane services endorsed as nationally significant or highly desirable projects.

Non-compliance on the provisions of the EO will be a ground for administrative and disciplinary sanctions against any erring public officer or employee, as provided under existing laws and regulations.—AOL, GMA Integrated News