Secretary Frederick Go of the Office of the Special Assistant to the President for Investment and Economic Affairs (SAPIEA) chaired his first Economic Development Group (EDG) meeting, which focused on enhancing the attractiveness of the Philippines to foreign investors.
At the high-level meeting on Monday, Feb. 19, the member agencies of the EDG coordinated their initiatives to streamline foreign investments in renewable energy, critical minerals, and agriculture sectors, the National Economic and Development Authority (NEDA) said in statement.
They reached a consensus on strategies to overcome identified obstacles and accelerate procedures to bring the government's planned renewable energy projects to fruition, said the NEDA, the EDG secretariat.
Additionally, the discussions at the high-level meeting explored methods to translate investor interest in critical minerals into tangible investments in mineral processing, particularly focusing on green technologies within key value chains.
The EDG comprises the SAPIEA, the Department of Finance, the National Economic and Development Authority, the Department of Budget and Management, the Department of Agriculture (DA), and the Department of Energy.
Other members include the Department of Science and Technology, the Department of Trade and Industry, and the Department of the Interior and Local Government.
In his opening statement, Go emphasized the EDG's role in coordinating actionable initiatives across departments to prevent duplication and ensure alignment among all relevant agencies.
The DA and the Department of Agrarian Reform also briefed the group on their efforts to promote clustering and consolidation to bolster agricultural productivity and enhance the well-being of farmers.
