Marcos: Replace red tape with red carpet

Following a revamp of his economic team, President Marcos has renewed his commitment to cut red tape and make it easier for businesses to operate in the country.

- HELEN FLORES

At the inauguration of the JG Summit Olefins Corp. (JGSOC) expanded petrochemicals manufacturing complex in Batangas City yesterday, Marcos directed his economic managers, led by newly appointed Finance Secretary Ralph Recto, to replace red tape with red carpet to usher in investments.

"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 in his remarks.