To further streamline investment processes in the Philippines, the government is poised to issue two measures that will supplement an executive order that establishes a green lane for strategic investments.
Ernesto delos Reyes Jr., director for Investments Assistance Service of the Board of Investments (BOI), in a presentation at the Economic Journalists Association of the Philippines —AboitizPower Renewable Energy Forum in Makati City over the weekend, said these measures, are meant to align policies and allow for simultaneous processing to reduce bureaucratic delays that have hindered investment opportunities.
Delos Reyes said joint memorandum circular (JMC) is being drafted where 38-government agency members of the Investments Facilitation Network focus on the implementation of the provisions of EO 18.
He said the JMC outlines a cohesive framework for all participating agencies, ensuring the provisions of EO 18 are uniformly applied across the board.
Delos Reyes added Rep. Jose Manuel Alba has filed House Bill 08039 codifying EO 18.
He said Rep. Ferjenel Biron is working on a supplementary bill to further enhance the provisions of the filed bill.
The proposed bill provides for enhanced guidelines on how to implement simultaneous processing of applications for strategic investments including the issuance of a provisional permit, provided the company has issued an affidavit of undertaking to submit complete requirements within a prescribed period.
Delos Reyes said the Office of Strategy and Coordination for Investment (OSACSI) OSACSI is working with the Office of Senator Mark Villar for the drafting of a Senate bill for the same purpose.
“We hope to further simplify further the process for obtaining permits and licenses, and institutionalize this beyond this administration,” Delos Reyes said.
Delos Reyes said since the EO is relatively new, some investors are not aware there is an agency that hold their hands through the permitting and licensing process.
He added some local government units, particularly on the barangay level, continue to give the investors a hard time.
He said one of the issues faced by investors is the difficulty in starting a business in the country.
Delos Reyes said the BOI also ensures expressions of interest translate to actual application.
“We entertain exploratory investments but we want to make sure the proponent already has a judicial entity and the project has a specific location,” Delos Reyes said.To further streamline investment processes in the Philippines, the government is poised to issue two measures that will supplement an executive order that establishes a green lane for strategic investments.
Ernesto delos Reyes Jr., director for Investments Assistance Service of the Board of Investments (BOI), in a presentation at the Economic Journalists Association of the Philippines — AboitizPower Renewable Energy Forum in Makati City over the weekend, said these measures, are meant to align policies and allow for simultaneous processing to reduce bureaucratic delays that have hindered investment opportunities.
Delos Reyes said joint memorandum circular (JMC) is being drafted where 38-government agency members of the Investments Facilitation Network focus on the implementation of the provisions of EO 18.
He said the JMC outlines a cohesive framework for all participating agencies, ensuring the provisions of EO 18 are uniformly applied across the board.
Delos Reyes added Rep. Jose Manuel Alba has filed House Bill 08039 codifying EO 18.
He said Rep. Ferjenel Biron is working on a supplementary bill to further enhance the provisions of the filed bill.
The proposed bill provides for enhanced guidelines on how to implement simultaneous processing of applications for strategic investments including the issuance of a provisional permit, provided the company has issued an affidavit of undertaking to submit complete requirements within a prescribed period.
Delos Reyes said the Office of Strategy and Coordination for Investment (OSACSI) OSACSI is working with the Office of Senator Mark Villar for the drafting of a Senate bill for the same purpose.
“We hope to further simplify further the process for obtaining permits and licenses, and institutionalize this beyond this administration,” Delos Reyes said.
Delos Reyes said since the EO is relatively new, some investors are not aware there is an agency that hold their hands through the permitting and licensing process.
He added some local government units, particularly on the barangay level, continue to give the investors a hard time.
He said one of the issues faced by investors is the difficulty in starting a business in the country.
Delos Reyes said the BOI also ensures expressions of interest translate to actual application.
“We entertain exploratory investments but we want to make sure the proponent already has a judicial entity and the project has a specific location,” Delos Reyes said.
