The Office of the Executive Secretary agreed to work with the Philippine Economic Zone Authority, the Trade Department and the Philippine Chamber of Commerce and Industry to speed up the presidential proclamations for new special economic zones.
PCCI said the move was in response to investor concerns which they expressed during the recently concluded 43rd Philippine Business Conference.
Executive Secretary Salvador Medialdea said the review of pending applications took longer than expected given the lack of important documentation and requirements, specifically those that pertained to land titles.
Medialdea asked Peza and the Trade Department to jointly work and undertake due diligence to ensure that everything was in order before sending applications to his office for endorsement.
He cited the importance of working according to the letter of the law to prevent future issues.
Medialdea assured that the OES had completed reviews of 25 pending ecozone applications which were ready for presidential proclamation.