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Monday, June 24, 2024

LGU ‘green lanes’ to hike investments

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Local governments are now required by a new law to activate “green lanes” to hasten the processing of the paperwork needed by investors who plan to engage in enterprises producing local goods and services of world-class caliber or the envisioned “Tatak Pinoy” trademark.

The newly-enacted law is designed to sharpen the global competitiveness of Philippine brands, Camarines Sur Rep. Luis Raymund Villafuerte said.

Villafuerte, one of the authors of Republic Act 11981 that aims to pursue the “Tatak Pinoy Strategy (TPS)” said “green lane” facilities shall be established too for the speedy processing of the import and export requirements and clearances needed by TPS enterprises dealing with the Bureau of Customs, Food and Drug Administration, and other regulatory agencies.

“Local government executives have a big role to play in their respective areas of jurisdiction to level up the production of Philippine goods and services that are not only of increasing diversity and sophistication but are globally competitive or of world-class standards as well,” he said.

Villafuerte said RA 11981 marks a “significant leap forward” in highlighting Philippine-made products and services on the world stage and, in the process, clearing the way to a more prosperous and inclusive nation for future generations.

As the President stressed during the signing ceremony for RA 11981, this new law is all about investing in Filipino competence and talent, and that such Filipino genius and gift must be propped up, not just by exhortation alone but by true and tangible government and private-sector support, the lawmaker said.

He said the President has aptly noted that “Tatak Pinoy” is not a mere “branding exercise,” but a law aimed to incubate and incentivize excellent products that deserve to carry the “Made in the Philippines” trademark of excellence or great workmanship.

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