To address the concerns of foreign investors and promote the Philippines as a top investment destination, President Ferdinand "Bongbong" Marcos Jr. has ordered the establishment of Green Lanes for strategic investments in government offices.

LOOK: To address the concerns of foreign investors, President Bongbong Marcos orders creation of Green Lanes for strategic investments. (2/2) @manilabulletin pic.twitter.com/TT9q72R2bn

— Argyll Cyrus Geducos (@argyllcyrus_MB) February 24, 2023

This developed after Malacañang issued Executive Order (EO) No. 18 on Feb. 24. Executive Secretary Lucas Bersamin signed the EO on Feb. 23.

In his EO, President Marcos said the move was 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 EO read.

EO 18 covers all national government agencies (NGAs) and their regional and provincial offices, government-owned and controlled corporations (GOCCs), other government instrumentalities, and local government units (LGUs).

Government offices issuing permits, licenses, certifications, or authorizations covering Strategic Investments are also covered by the ORder.

The EO specifies strategic investments as those aligned with the Philippine Development Plan or any similar national development plan and can be characterized by:

• The significant capital or investment in the country
• The consequential economic impact
• The positive impact on the environment
• The significant contribution to the country's balance of payments
• Complex technical processes and engineering designs
• Those that would improve the country's infrastructure capabilities

EO No. 18 added that strategic investments include highly desirable projects, foreign direct investments, and projects or activities under the Strategic Investment Priority Plan.

Within six months from the issuance of the EO, the Department of Trade and Industry-Board of Investments (DTI-BOI) shall establish a One-Stop-Action-Center for Strategic Investments (OSAC-SI), which shall serve as the single point of entry for all projects qualified as strategic investments.

Aside from addressing investor concerns, such as identifying strategic investments, the OSAC-SI will include aftercare or post-investment assistance as part of its services.

The DTI-BOI, within three months from the issuance of the order, shall 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 the concerned NGAs, LGUs or quasi-judicial bodies issuing relevant permits and licenses.

"The DTI-BOI will be supported by additional manpower, including the designation of Account Officers for Strategic Investments, as well as equipment necessary to operationalize the OSAC-SI, in coordination with the Department of Budget and Management," the EO read.

The EO also directs the Department of Information and Communications Technology (DICT) to make available to LGUs the software for computerizing the business permit and licensing system, with the help of the Department of the Interior and Local Government (DILG).

A Technical Working Group (TWG), which the DTI-BOI would head, 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.