By Danessa Rivera (The
Philippine Star) | Updated August 8, 2017 - 12:00am
MANILA, Philippines - Energy
Secretary Alfonso Cusi expects at least $70 million worth of power projects to
benefit from the recently signed executive order (EO) backing critical
infrastructure.
Red tape and long waiting times are
among the biggest hurdles being faced by investors in Asia, particularly in the
Philippines, Cusi said in his speech during the Asian Cooperation Dialogue Conference.
“That is why President Duterte has
signed Executive Order 30. This will make it easier for investors who want to
build energy infrastructure in the Philippines by streamlining bureaucracy and
removing time-consuming hurdles to investments,” he said.
The EO provides that government
agencies concerned with energy projects should presume other agencies were able
to act upon and issue their respective permits within a 30-day period.
“This will change the way we process
our energy projects. No longer will it take up to three years for an agency to
respond to a proposal for a project. Instead, these agencies must act on a
proposal within 30 days, otherwise, the proposal is deemed
approved,” Cusi said.
“This executive order will see
energy projects amounting to at least $70 million being classified as projects
of national significance as well as mandate the streamlining of permitting
process of all government agencies under the Energy Investment Coordinating
Council (EICC),” Cusi said.
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