Promise 16: Lower cost of doing business in the country
Economy | 07/25/2010 12:16 AM
We will increase investments to provide quality jobs for Filipinos by lowering the costs of doing business in our country.
We will level the playing field for businesses. We will encourage free and fair competition in a level playing field that stresses that one need not be a crony in order to be successful in this country. We will make our bidding and procurement policies and processes more transparent, and punish those who seek to circumvent procurement laws through collusion and other illegal means.
We will have easier, streamlined business procedures. We will transform our systems to foster service to the public. We will streamline the approval process, not only for setting up new businesses but also in the regular day-to-day transactions with government, such as the payment of taxes. We will do this on a national as well as the local level.
Promise 2: Government transparency: opening up government transactions
Promise 10: Target key industries with greatest potential for growth
Promise 11: Promote entrepreneurship
August 16, 2012: Zurich-based Thomas Lloyd Global Asset Management AG invested P415 million publicly listed renewable energy firm Greenery Holdings Inc. (Continue reading)
July 15, 2012: The Department of Trade and Industry was set to hold consultations with local stakeholders later this month to come up with recommendations to encourage more investments in the creative industries sector. (Continue reading)
June 18, 2012: Malaysia’s Alloy MTD Group reinvested in the country a P22 billion worth of projects from last January’s sale of its South Luzon Expressway operation to a consortium led by San Miguel Corp. (Continue reading)
June 07, 2012: Philippine’s 13 investments promotion agencies signed a memorandum of agreement to pursue an integrated investment promotion program to achieve their P870 billion investment target for the year. (Continue reading)
Aquino unveils faster Business Name Registration System (pcoo.gov.ph, Oct 12, 2010)
In line with the Aquino administration’s thrust to create a business-friendly environment to attract more investments, President Benigno S. Aquino III unveiled on Tuesday a faster Business Name Registration System (eBNRS) at the Department of Trade and Industry –National Capital Region Area 3 office at Highway 54 in Mandaluyong City.
The online registration, one of the government’s commitments to the public by giving businessmen less hassle in doing business, also makes government transactions transparent and prevents corruption in the workplace. (Continue reading)
LGUs told: Issue new business permit in 5 days (abs-cbnNEWS.com, August 7, 2010)
MANILA, Philippines - To speed up issuance of business permits and licenses, the Department of Trade and Industry (DTI) and the Department of the Interior and Local Government (DILG) launched on Friday a project to streamline these processes in cities and municipalities.
The joint Memorandum Circular for the Nationwide Streamlining of Business Permits and Licensing System (BPLS) for local government units (LGUs) project was signed by DILG Secretary Jesse Robredo and DTI Secretary Gregory Domingo, in the presence of LGU representatives.
A circular outlines the guidelines and standards for processing business permits.
"Malaki ang pakinabang nito sa Pilipinas, titingnan na tayo ng mga investors, di lang ito pang local kundi pang-international. It will bring more money to the governments and create jobs," Domingo said.
He added the BPLS will minimize graft and corruption by removing several steps that drag the processing.
Robredo said that based on a nationwide survey by the department, it takes an average of 5 days to renew a business permit. Under the new system, they aim to shorten it to 2 to 3 days.
In getting a new permit, meanwhile, the program aims to shorten it from an average of 10 days to 5 days. (Continue reading)