President Ferdinand "Bongbong" Marcos Jr. has assured that the One-Stop-Action-Center for Strategic Investments (OSAC-SI) of the Board of Investments (BOI) would not cause delays but would entice potential investors by lifting the bureaucratic load off them.

President Ferdinand ‘Bongbong’ Marcos Jr. (Ali Vicoy)

Marcos said this as he led the launch of the Green Lanes for Strategic Investments and the awarding of Executive Order (EO) No. 18 Certificate of Endorsement for the construction of the $1.2-billion 1,300-megawatt floating solar project at the Laguna Lake.

In his speech on Thursday, July 13, the President rejected claims that the OSAC-SI might be a bottleneck.

"That is not the idea behind this. The idea behind this is to give our investors, take the load, the bureaucratic load off the potential investors, and put that load onto our green lane practitioners," he said.

"I think it is a big step towards our fostering this idea of making the ease of doing business something that becomes more attractive to potential investors," he added.

The so-called "green lane practitioners," according to Marcos, are the departments in charge of the processes, like the Department of Trade and Industry (DTI) and the Anti-Red Tape Authority (ARTA).

Marcos said the OSAC-SI would clarify complex rules that make it difficult even for Filipinos to comply.

"Let us take that load off the investor. Let us take that load off the business sector and take it on," he said.

"That is the role of government— to handle all these bureaucratic procedures, not so that we delay and we open opportunities for corruption, for wastage," he added.

"We understand that time is of the essence for our investors and our entrepreneurs. Thus, a streamlined bureaucracy will ensure that our processes are efficient, transparent, and responsive to the needs of these potential investors," he continued.

Based on EO 18, 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.

Other efforts

In addition, President Marcos said the government will soon launch the e-Invest, an online platform for investors to submit applications to operate in the country, where they can also be granted a Provisionary Permit to Operate while waiting for their applications to be processed and approved.

He said the government would also facilitate the simultaneous processing of applications of national government agencies and local government units for permits and for licenses.

"We will enable electronic submission of applications for and the issuance of clearances, permits, payments, and certifications, amongst other documentary requirements," Marcos said.

President Marcos likewise vowed to "closely monitor" the processes so the government could track its progress and identity areas for improvement while pursuing other projects that would promote the Philippines as an "even more fertile ground for investments."