Marcos pushes anew for ease of doing business: Replace red tape with red carpet

BATANGAS CITY — President Ferdinand ''Bongbong'' Marcos Jr. has ordered the economic team to work with conglomerates to create ''a climate that propels economic growth, boosts incentives, promotes ease of doing business, and funds high-impact infrastructure.''

''The bottom line of their assigned mission is this: To reduce red tape that chokes industry and innovation and replace it with a red carpet that ushers in capital, foreign and domestic, and provides the path towards progress,'' Marcos said during the inauguration of the expanded petrochemicals manufacturing complex in Batangas City Friday.

He emphasized that the government should not be a yoke in the business sector as he pushes for the ease of doing business in the country. 

''This is the government’s mandatory equity to provide participation in national growth. It is my firm belief that the government should not be a yoke on the back of business, like taxing them heavily, and tightly regulating their growth, making the ease of doing business a sticking point for possible investors,'' Marcos said. 

Since the start of his presidency, Marcos has vowed to improve the ease of doing business in the country to help attract more investors.

The Gokongwei Group owned the expanded manufacturing facility in Batangas City, which is considered as the nation's largest-owned petrochemical investment that houses the first and only naphtha cracker plant in the Philippines. 

According to the JG Summit Holdings, Inc., the complex helps promote a positive investment image as it establishes the Philippines as a country invested in sustaining the growth of its domestic manufacturing industries.

It noted that the petrochemical industry is both a strategic and basic sector of the economy because it provides raw materials to other major sectors of the Philippine economy, which in turn create other support industries.—AOL, GMA Integrated News