The Anti-Red Tape Authority committed to fully supporting the implementation of Executive Order No. 18, series of 2023, or the green lanes for strategic investments.
Under Section 10 of EO 18, ARTA is assigned as a member of the Technical Working Group which should act on complaints and take appropriate actions, consistent with its respective mandate, against third-party business consultants engaged by foreign and local investors who act in violation of Republic Act No. 9485, also known as the Anti-Red Tape Act of 2007, as amended.
“ARTA is all geared up for the full implementation of EO No. 18 to improve ease of doing business in the country and to promote economic development,” said ARTA secretary Ernesto Perez.
“We are ready to take on the job of promoting foreign direct investments and streamlining the government approval and registration processes for strategic investments,” he said.
EO 18 covers all national government agencies, government-owned and -controlled corporations and other government instrumentalities as well as local government units involved in the issuance of permits, licenses, and certifications or authorizations covering strategic investments.
The EO also mandates the Department of Trade and Industry and the Board of Investments to launch a one-stop action center for strategic investments as a single entry point for all strategic investments.
“EO 18 is a government-wide response to improve the ease of doing business here in our country. The EO seeks to address the barrier across multiple regulatory agencies that hamper the entry of foreign direct investments,” said DTI Secretary Alfredo Pascual.
ARTA expressed confidence EO 18 would help the Philippines achieve its goal of becoming a top investment destination in the region.