PRESIDENT Ferdinand R. Marcos Jr., said that businesses should adapt to replacing red tape with a red carpet.

According to Marcos conglomerates should 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.

Likewise, Marcos said that the government must 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. 

Marcos said at the start of his presidency that he is always wanting to improve the ease of doing business in the country to help attract more investors.