Gov’t acts to improve RP’s competitiveness, business environment

THE DEPARTMENT of Trade and Industry will implement this year a number of programs geared toward providing a better business environment and making it easier for investors to set up businesses in the country.

“The urgent task to improve business environment is not just to improve [competitiveness] rankings, but to spur more growth, more development, and ultimately, reduce poverty,” said Trade Secretary Gregory L. Domingo.

“2010 is the year of milestones in enhancing the business environment and improving competitiveness,” he added in his presentation during the mid-year economic briefing Wednesday.

To ease the cost of doing business, the DTI is putting up a Philippine Business Registry (PBR), a fully secured national business registry database for easier processing of business information, Domingo reported.

Domingo said the “portal” will facilitate business registration-related transactions among government agencies and local governments, as well as automatically provide numbers for Bureau of Internal Revenue, Social Security System, Pag-Ibig and Philhealth.

Another initiative, Domingo added, is the Business Name Registration System (BNRS), which will allow the registration of business names within 15 minutes, with a simplified application and localization of filing.

The DTI also targets to put up and/or implement this year a nationwide streamlining program for permits and licensing systems; a National Economic Research & Business Assistance Center that will serve as a one-stop-shop for start-up businesses; innovations in Sales Promo permit system; reduction of processing time for product safety certification, among others.

To attract more investments, Domingo said DTI will promote key priority industries, including tourism, business process outsourcing and information technology; electronics; housing; mining and agribusiness.

According to the latest World Economic Forum Enabling Trade Index (ETI), the Philippines is becoming less attractive as a business destination.

The index trackers reported that the country fell 10 notches to the 92nd position this year from last year’s 82nd.

The Philippines was one of 125 countries that the ETI had ranked in terms of market access - both foreign and domestic - and border administration, including efficiency of customs administration, efficiency of import-export procedures and transparency of border administration. (Philippine Daily Inquirer)

No. 2 * 08/18/2010