The Department of Agriculture (DA) has issued a new Joint Memorandum Circular (JMC) to strengthen inter-agency coordination and streamline the entry of strategic investments, particularly in the agriculture and fisheries sectors.
The JMC is a multi-agency effort involving 38 national government offices, including the Departments of Trade and Industry; Finance; and the Interior and Local Government as well as the Bureau of Customs, the DA said in a statement on Sunday, August 3.
The agency added that such a collaboration will ensure the timely evaluation and approval of strategic investment proposals by reducing bureaucratic delays. The DA said it will lead in facilitating investments related to agribusiness, agricultural mechanization, food security, and rural infrastructure.
The DA said the JMC, which was signed by Agriculture Secretary Francisco Tiu Laurel Jr. in late July, will specifically enhance the operational mechanism of the Investment Facilitation Network (INFA-Net) and will integrate the provisions of Executive Order (EO) No. 18, Series of 2023.
The EO institutionalizes Green Lanes for Strategic Investments, which was put in place by the government to fast-track the processing of permits, licenses, and registrations essential for major investment projects.
“This JMC is a significant step forward in our commitment to making it easier for investors to do business in the Philippines’ agri-fishery sector… With improved coordination and more efficient systems in place, we are creating an environment that attracts investment and drives inclusive rural development,” Tiu Laurel said in the DA statement.
Under the JMC, a dedicated INFA-Net Focal Unit led by DA’s Agribusiness and Marketing Assistance Service, in coordination with the Policy Research Service, will also be responsible for ensuring timely coordination and compliance with the circular’s provisions.
By removing unnecessary red tape, the coordinated and expedited procedures under the JMC will create a more transparent and investor-friendly climate particularly in underserved rural areas, for possible investments to modernize farming and fisheries practices, the DA said. The JMC procedures will also lead to increased productivity and profitability for local producers, the DA added.
“This initiative doesn’t just target investors… It’s also about uplifting our farmers and fisherfolk, generating rural employment, and ensuring long-term food security for the nation,” Tiu Laurel said.
