The recently signed Executive Order (EO) 30 will have at least $70-million worth of power projects classified as critical projects, Department of Energy (DOE) Secretary Alfonso Cusi said.
The EO aims to streamlining bureaucracy and removing time-consuming hurdles to investments, which are among the big hurdles investors face in Asia and the Philippines, Cusi said.
?This executive order will see energy projects amounting to at least $70 million being classified as projects of national significance as well as mandate the streamlining of permitting process of all government agencies under the Energy Investment Coordinating Council (EICC),? he said.
Under the EO, government agencies should act upon and issue their respective permits for projects of national significance within a 30-day period, otherwise, the project proposals are deemed approved.
It also created the Energy Investment Coordinating Council (EICC), which will harmonize, integrate and streamline regulatory processes, requirements and forms required by investors in putting up power projects.
?Speed is of the essence here and we are determined to see that we pull in the best investments and build our projects on time to deliver on our domestic plan. This will allow us to generate the momentum,? Cusi said.
