Sofitel Philippine Plaza Manila, Pasay City
July 13, 2023

“Executive Order No. 18 signifies the unwavering commitment of this government to simplify procedures and trim bureaucratic layers to ensure the ease of doing business in our country…this will not only strengthen market competition and reduce barriers to investments, 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,” said President Ferdinand R. Marcos Jr., reiterating the need to streamline licensing and business processes, as he led the launching of Green Lanes for Strategic Investments at the Sofitel Philippine Plaza Manila in Pasay City.

According to the President, Executive Order No. 18, series of 2023 complements the landmark economic reforms made by Congress which includes the amendments to laws such as the Public Service Act, the Foreign Investments Act and the Retail Trade Liberalization Law to further promote the Philippines as a top investment destination.

The Chief Executive also mentioned other measures being implemented to foster a conducive business environment. These include establishing Green Lane services for the permitting and licensing of Strategic Investments, and the creation of a Single Point of Entry for all projects qualified as Strategic Investments in the Bureau of Investments’ (BOI) One-Stop Action Center.

“Let us take that load off the investor, let us take that load off the business sector and take it on because that is the role of Government,” he added.

He also announced the launching of e-Invest, an online platform for investors to submit applications to operate in the country, wherein foreign investors will be granted a Provisionary Permit to Operate while waiting for their applications to be processed and approved.

Moreover, the President assured that his Administration will closely monitor the performance of these processes to track its progress and ensure its efficiency.

“We envision a future where the Philippines becomes an attractive and competitive hub for business ventures, where enterprises flourish and thrive, and where opportunities await every investor for every Filipino,” the President said.

In the same event, Department of Trade and Industry (DTI) Secretary Alfredo Pascual announced that total investments approved in the First Quarter of 2023 amounted to PhP173 billion, a significant increase from PhP9 billion in the same quarter of last year.

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