The Board of Investments (BOI) said it witnessed the signing of the memorandum of agreement (MOA) for the green lane ordinance between the provincial government of Northern Samar and its 24 municipalities on May 16, 2024.
Under the ordinance, the provincial government and participating municipalities will collaborate closely with the business community to identify regulatory bottlenecks and implement targeted reforms.
This approach will prioritize key sectors aligned with the Strategic Investment Priority Plan (SIPP) such as tourism, agriculture, digital infrastructure and renewable energy.
Key officials from the provincial government, municipal leaders and BOI representatives attended the signing ceremony, aiming to unlock Northern Samar’s full economic potential.
Governor Edwin Marino Ongchuan expressed his enthusiasm for the initiative, emphasizing the ordinance’s potential to transform the business landscape.
“The green lane Ordinance is a game-changer for Northern Samar. It demonstrates our commitment to creating a conducive environment for business and investment, which is essential for our province’s economic development. We are confident that this ordinance will pave the way for significant investments that will benefit our communities and drive sustainable growth,” Ongchuan said.
BOI director Ernesto Delos Reyes reaffirmed the national government’s full support for the ordinance, highlighting its significance in improving the business climate and promoting sustainable economic progress.
“The MOA will not just improve the ease of doing business but also lay the groundwork for sustainable economic progress that benefits both residents and businesses alike. The BOI will be at your side every step of the way as your efforts today will surely contribute to the prosperity and vibrancy of your province for years to come,” Delos Reyes said.