Defining the News
EARLIER this year, President Ferdinand Marcos Jr. bubbled over the significance of the inauguration of the P150-billion expanded petrochemical facility in Batangas as he inducted into office two individuals to join his Cabinet.
“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,” the President said. RA 9485, or the Anti-Red Tape Act of 2007, was amended by RA 11032, which renamed the law as the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.
Of the 185 flagship projects, 81 are financed through official development assistance, 51 through the General Appropriations Act, 45 through public-private partnerships and seven through hybrid financing modalities.
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