WHEREAS, there is an urgent need to attract, generate and sustain a high level of investments in agriculture, industry, services, construction, transport, road networks, irrigation, major infrastructure activities, telecommunications and other sectors from local and foreign investors;

WHEREAS, there is a further need to fast-track and facilitate pump-priming projects, whether through Official Development Assistance ( œODA œ), Build-Operate-Transfer ( œBOT œ) schemes, or private investments, which would sustain development and growth efforts of government;

WHEREAS, in order to attract pump-priming activities, government should take a more proactive stance to provide assistance to current and potential investors, expedite the screening and approval process for ODA and BOT projects, and facilitate and coordinate the processing of all documents, clearances, permits and other requirements for the whole duration of these projects and investments;

WHEREAS, there are already numerous government agencies handling and facilitating investments and funding for pump-priming projects, including the NEDA-Investment Coordinating Council ( œNEDA-ICC œ), Investment One-Stop Action Center ( œOSAC œ) and the Investment Promotion Units ( œIPUs œ) under the Board of Investments, and the Office of the Investment Ombudsman ( œOIO );

WHEREAS, despite the work undertaken by these agencies, there remains an urgent need to refocus, consolidate and strengthen existing government offices and agencies currently processing and facilitating these investments in order to make government more responsive to the needs of investors in view of the highly competitive global environment;

WHEREAS, in order to place the highest priority on facilitating pump-priming projects, an Investment Express Lane Office ( œIELO œ) should be created under the Office of the President which will fast-track and facilitate the flow of investments into the country;

WHEREAS, there is a need to transfer the Office of the Investment Ombudsman, which is under the administrative supervision of the Department of Trade and Industry, back to the Office of the President under the direct supervision of the ECC;

WHEREAS, the President has continuing authority to reorganize the administrative structure of the Office of the President pursuant to Executive Order No. 292 (Administrative Code of 1987);

WHEREAS, under the General Appropriations Act, the President may direct changes in the organization and key positions in any department, bureau or agency;

NOW, THEREFORE, I, JOSEPH EJERCITO ESTRADA, President of the Republic of the Philippines, by virtue of the powers vested in me by law and the Constitution, do hereby order the following:

SECTION 1. Creation of Investment Express Lanes Office. There is hereby created an Investment Express Lane Office ( œIELO œ) under the Office of the President, to be supervised by the Economic Coordinating Council ( œECC œ).

SECTION 2. Composition of the IELO. The IELO shall be headed by the Vice-Chairman of the ECC. A secretariat is hereby established to assist the Vice-Chairman of the ECC in the performance of his functions.

SECTION 3. Functions of the IELO. The IELO shall cause the facilitation, expeditious processing, approval and release of all government permits, licenses and requirements of investment-entities, ODA and BOT projects with a total investment of at least Fifty Million Pesos (P50 ,000,000.00) in the case of agricultural and agri-based projects and One Hundred Million Pesos (P100 ,000,000.00) in all other projects ( œQualified Investors œ). In addition, it shall have the following functions:

(a) Serve as the link between the Office of the President and all government agencies and local government units in the processing and approval of registration and licensing requirements and start-up of operations;

(b) Facilitate the expeditious issuance and approval of registration and licensing requirements and other national and local governmental requirements in the start-up and in the ongoing operations of Qualified Investors through the establishment of Investment Express Lanes;

(c) Set time-bound processing of documents and standards necessary for the start-up and operations of Qualified Investors which will shorten existing periods for processing of documents and streamline and improve existing standards affecting Qualified Investors;

(d) Identify bottlenecks often encountered by Qualified Investors and recommend and formulate remedial measures to remove the same;

(e) Assist government departments, agencies, bureaus and corporations and local government units in complying with this Order;

(f) Ensure the consistency and complementation of all issuances, pronouncements, plans, programs and projects, and proposed legislation affecting Qualified Investors; and

(g) Exercise such other powers and perform such other duties as may be required.

SECTION 4. Qualified Investors. The Vice-Chairman of the ECC, in consultation with the ECC, may determine an investor to be a Qualified Investor within the meaning of this Order even though the requirements laid down in Section 3 are not met; Provided, that the IELO shall set the criteria for such Qualified Investors in the Implementing Rules and Regulations.

SECTION 5. Location of IELs. IELs shall be established in strategic locations as may be determined by the ECC. In addition, an internet website shall be established to facilitate processing, registration and follow-up queries from Qualified Investors.

SECTION 6. Transfer of the Administrative Supervision Over the Office of the Investment Ombudsman to the Office of the President. The administrative supervision of the Office of the Investment Ombudsman created under Executive Order No. 180, as amended by Executive Order No. 224, is hereby transferred to the ECC. The Investment Ombudsman shall monitor and ensure that the objectives of this Order are carried out fully and effectively.

SECTION 7. Support and Coordination. In fulfilling the objectives of this Executive Order, all government departments, bureaus, agencies and corporations and local government units are hereby required to extend full support to and coordination with the IELO.

SECTION 8. Funding. To carry-out the provisions of this Order, the amount of Ten Million Pesos (P10,000,000.00) shall be allotted as initial funding, which shall come from the budget of the Office of the President.

SECTION 9. Repealing Clause. All executive issuances or portions thereof inconsistent with this Order, are hereby repealed or modified accordingly.

SECTION 10. Effectivity. This Executive Order shall take effect immediately.

DONE, in the City of Manila, this 26th day of December, in the Year of our Lord, Two Thousand.

(SGD.) JOSEPH EJERCITO ESTRADA

By the President:

(SGD.) RAMON B. CARDENAS
Senior Deputy Executive Secretary