22 Sept 2016
PHILIPPINES: Major Projects Fast-Tracked in Bid to Restore Investor Confidence
Nine infrastructure and development projects, worth P171 billion (US$3.57 billion), have been approved as a matter of national priority. The projects were green-lit just 42 days after receiving preliminary approval from the country’s Investment Coordination Committee (ICC).
The Philippine government’s move to fast-track the approval of development projects has been seen as a bid to boost investor confidence in the wake of the recent presidential elections.
In a previous move to streamline the country’s investment environment, the government had earlier this month announced an improved turnaround time schedule for the registration of new businesses. For details, see PHILIPPINES: Business Registration Time Cut to Two Days Prior to Adoption of Online System.