BOI, PEZA show support for green lane policy

MANILA, PHILIPPINES — The Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA) voiced their support for Executive Order (EO) No. 18 or the creation of green lanes for strategic investments.

According to Department of Trade and Industry (DTI) Secretary and BOI Chairperson Alfredo Pascual, the green lanes would help ease business transactions and increase the country’s attractiveness as an investment destination.

Pascual added that the EO “complements [the agency’s] efforts to facilitate a robust economic recovery and expansion.”

Meanwhile, PEZA officer-in-charge Tereso Panga stated that EO 18 signals “a whole-of-government approach” in improving and accelerating the issuance of permits and licenses needed to establish businesses in the country.

Panga also noted that PEZA is ready to share its best practices and knowledge in providing smooth services to investors as the agency implements a one-stop shop for securing permits and licenses.

The EO 18 was signed by President Ferdinand Marcos Jr. last February 23 to encourage investors to engage in strategic investments and promote the Philippines as a top investment destination.