TACLOBAN CITY – The country’s network of local investment promotion officers has expressed strong support for a new policy that aims to make it easier for businesses to invest in the Philippines by cutting red tape and speeding up approval processes.
The policy, outlined in a joint memorandum circular (JMC), was signed on Monday, June 2, at the Makati Diamond Residences in Makati City. It brings together 36 national government agencies under the Investment Facilitation Network (INFA-Net), as well as lawmakers and private sector leaders.
The JMC puts into action parts of Executive Order No. 18, issued in 2023, which aims to make business-related transactions—like getting permits and licenses—faster and more efficient.
“This important collaboration among government agencies sets a new standard for investment facilitation in the Philippines,” said Jhon Allen Berbon, national president of the Philippine Association of Local Investment Offices (Palio) and head of the Provincial Economic Development and Investment Promotion Office (Pedipo) in Northern Samar, said on Monday, June 2.
“By making processes simpler and more coordinated, we are helping create more jobs and improving the lives of Filipinos,” he added.
Palio is a nationwide organization of local investment officers from different cities, provinces, and municipalities. These officers help local governments attract investors through their Local Economic Development and Investment Promotion Offices (LEDIPOs). Palio’s support shows that local governments are ready to work with national agencies on improving investment services.
The JMC also directs local government units (LGUs) to follow the new standards to ensure uniformity across the country.
The Department of the Interior and Local Government (DILG) will oversee and monitor how LGUs implement the new rules.
Senator Sherwin Gatchalian and Representative Joey Salceda, who head the Senate and House ways and means committees, attended the signing ceremony. They both said the new policy could help reduce delays in investments and strengthen the Philippines’ reputation as a business-friendly country in Asia.
(JOEY A. GABIETA)
