Daily Times

The Philippines on Thursday officially launched the “green lanes” to improve the country’s investment climate and boost the flow of foreign direct investments into the country. In February, Philippine President Ferdinand Romualdez Marcos issued an executive order creating green lanes in government offices to facilitate materializing investments. “I am confident that the green lanes will pave the way for the realization of many pledges that we have had, including those that I have personally received while abroad, ensuring that they will bear fruit for our people and our nation,” Marcos said at the launch. Marcos said the executive order strengthens market competition and reduces barriers to investment. The executive order mandates all government offices, including the local government units, to expedite the processes involved in issuing permits, licenses, and certifications required to implement investments.