Investment promotion officers back measure for easier investment in PH
Photo by Ted Aljibe | Agence France-Presse
TACLOBAN CITY, Philippines — The country’s network of local investment promotion officers has expressed strong support for a new policy aimed at making 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 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), along with lawmakers and private sector leaders.
The JMC operationalizes parts of Executive Order No. 18, issued in 2023, which seeks to streamline business-related transactions such as securing permits and licenses.
“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 in Northern Samar.
“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 cities, provinces, and municipalities. These officers assist local governments in attracting investors through their Local Economic Development and Investment Promotion Offices.
Palio’s backing of the JMC underscores local governments’ readiness to work with national agencies in improving investment services.
The JMC also directs local governments to follow the new standards to ensure uniformity across the country. The Department of the Interior and Local Government will oversee and monitor implementation at the local level.
Sen. Sherwin Gatchalian and Rep. Joey Salceda, who chair the Senate and House ways and means committees, respectively, attended the signing ceremony.
Both lawmakers said the policy could help reduce delays in investments and strengthen the Philippines’ reputation as a business-friendly destination in Asia.
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