President Ferdinand R. Marcos Jr. on Thursday, July 13, 2023, leads the launching of green lanes for strategic investments in a ceremony held at the Sofitel Philippine Plaza in Pasay City.The newly launched Green Lane for Strategic Investments will help boost the country’s business competitiveness and will fulfill the realization of investment pledges, President Ferdinand R. Marcos Jr. said on Thursday.
For the establishments of local operations by foreign firms, he said the process has been reduced from 80 days to over 20 days. The GLSI was established through Executive Order No. 18 to streamline and automate government processes for strategic investments, namely, renewable energy, food security, digital infrastructure, data center, pharmaceuticals, and electric vehicles.
“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.