The Board of Investments said President Ferdinand Marcos Jr. would sign an executive order providing guidelines to expedite the processing and issuing of permits and licenses for strategic investments by creating a "green lane" system.

This was after President Marcos Jr. met with Trade Secretary Fred Pascual, who also sits as the board chairperson of the BoI, last week.

There has yet to be a definite date for the President to sign the EO, which is deemed to accelerate economic recoup for Philippine businesses and generate jobs in the country.

DTI undersecretary Carol Sanchez states a Friday meeting will be held on 9 December 2022, between Secretary Pascual and President Marcos.

"Then hopefully soon after that, the EO will be signed," Sanchez told the Daily Tribune.

The EO will mandate concerned offices to establish a Green Lane to expedite and streamline the process and requirements for issuing permits and licenses, including resolutions of issues concerning strategic investments.

This is in line with the President's directive to improve the bureaucratic efficiency of the government and achieve the administration's 8-point economic agenda.

During the meeting, Secretary Pascual also proposed to the EO to create the technology-abled One-Stop Action Center for strategic investments.

"The EO is aimed at encouraging investors to engage in Strategic Investments by facilitating and expediting actions related to the application of permits and licenses filed with National Government Agencies and their regional and provincial offices and Local Government Units. Further, it contains a provision that mandates NGAs and LGUs to simultaneously process applications for permits and licenses with the presumption that relevant documents from other agencies have already been issued," the BoI said in a statement Saturday.

The applicant shall execute an affidavit of undertaking that it has secured the relevant documents from specific NGAs for LGUs and shall submit the complete documentary requirements within 30 working days.