PBBM: Investment green lanes to boost Philippines’s business competitiveness

By Samuel P. Medenilla @sam_medenilla

THE newly launched Green Lane for Strategic Investments (GLSI) will help boost the country’s business competitiveness and will fulfill the realization of investment pledges, President Ferdinand R. Marcos Jr. said on Thursday.

Speaking at the launching of GLSI at the Sofitel Philippine Plaza Manila in Pasay City, the President said the country’s processing time for businesses is still too long compared to its neighboring countries.

“There are some [business] permits that take 36 months to complete. Whereas you go to Thailand, you go to Indonesia, you go to Vietnam, they take two weeks to complete,” Marcos noted. For the establishments of local operations by foreign firms, he said the process has been reduced from 80 days to over 20 days.

“Still, we have ways to go. You go to the countries that I have mentioned, it takes three days,” Marcos said.

He said the GLSI would help further reduce the processing for such transactions to make the country a more attractive investment destination.

The GLSI was established through Executive Order (EO) No. 18 to streamline and automate government processes for strategic investments, namely, renewable energy, food security, digital infrastructure, data center, pharmaceuticals, and electric vehicles.

It allows the simultaneous processing of applications where national government agencies (NGA) and local government units (LGU) will issue the business permits or licenses with an annotation that it shall be subject to the completion of requirements.

EO No. 18 created a One-Stop-Action Center for Strategic Investments

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(OSAC-SI) to handle all projects related to strategic investments.

“This will not only strengthen market competition and reduce barriers to investment, but will also serve as a beacon of progress for businesses and for every Filipino, guiding us towards a future of growth, opportunity, and success,” Marcos said.

The Chief Executive said the GLSI would also encourage firms to push through with their investment commitments in the Philippines.

“I am confident that the Green Lanes will pave the way for the realization of many pledges that we have had—including those that I have personally received whilst abroad—ensuring that they will bear fruit for our people and our nation,” Marcos said.

Based on data from the Department of Trade and Industry (DTI), the Philippine delegation from the presidential visits in Singapore, Indonesia, United States, Japan, China, Thailand, and Europe have generated P3.5 trillion of investment leads.