Government to identify projects qualified for regulatory relief

MANILA, Philippines — The government has formed a committee that will identify private sector projects qualified for regulatory relief under Republic Act 11494 or the Bayanihan to Recover as One Act.

The committee – composed of the Departments of Finance (DOF), Trade and Industry (DTI) and the   Environment and Natural Resources (DENR) – will also be responsible for determining the specific permits, licenses, certificates, clearances, authorizations, or resolutions that may be waived pursuant to the Bayanihan 2 Law.

“The committee will work toward achieving the goal of the Bayanihan 2 to spur investments by speeding up the approval and implementation of private investments, stimulate economic activity and create jobs, so that our economy can recover from the effects of the COVID-19 pandemic,” Finance Secretary Carlos Dominguez said.

Trade Secretary Ramon Lopez, for his part, said the regulatory relief measures provided under the Bayanihan 2 would fast-track the entry of high impact investments and help the country bounce back from the impact of the pandemic.

“It will also allow private projects to provide more employment opportunities for our fellow Filipinos that is critical at this time of the pandemic,” he said.

However, Dominguez said the committee would not be granting blanket relief as it would still need to assess the contribution of the projects and their impact on the health and welfare of the public.

“While permits, licenses, and other similar authorizations will be waived for private projects that meet the directives of the Act, we will ensure that their proponents comply with all the other laws pertinent to the implementation of these projects,” Environment Secretary Roy Cimatu said.

Bayanihan 2 states that private projects determined to be nationally significant, with high economic returns or high employment potential may have certain permits,  licenses  or other requirements waived to avoid delays in their implementation. These regulatory relief measures exclude those relating to taxes, duties, border control and environmental laws and regulations.