BACOLOD CITY -- A business leader here said the Ease of Doing Business Act will encourage the private sector to contribute to economic growth as it removed the hassles commonly encountered by entrepreneurs.
Frank Carbon, chief executive officer of Metro Bacolod Chamber of Commerce and Industry, said on Wednesday the new law would strengthen the business-enabling environment at the local level as it would eliminate unnecessary obstacles in doing business.
This will attract more investors, especially foreign firms, he added.
On Monday, President Rodrigo Duterte signed Republic Act 11032 or the Ease of Doing Business Act of 2018, in an effort to correct deficiencies in the bureaucracy - which often translate to the poor delivery of services and encourages corruption.
The legislation, which amends and expands the Anti-Red Tape Act of 2007, mandates government agencies to process simple transactions within three days, complex transactions within seven days, and highly-technical transactions within 20 days.
The President said the law will “introduce simplified requirements and streamlined procedures that will finally spare our people from the intolerable waiting time and long lines in front line government agencies.”
RA 11032 seeks to limit the number of signatories for applications for licenses, clearances, permits, certifications and authorizations to a maximum of three.
Electronic signatures shall also be recognized and a zero-contact policy shall be implemented to avoid improprieties, the law further states.
Carbon, who is also regional governor of the Philippine Chamber of Commerce and Industry in Western Visayas, said that since growth results from more investments come from the private sector, the government should make it easy for them to invest and operate with less hassle and corruption.
He noted that the local permitting system has been a disincentive to businesses seeking to invest and expand.
Carbon cited the case of those seeking to build power plants, wherein investors need to have about 200 signatures from the barangay-level alone and a six-month processing period.
“By enabling investors to easily come in, we are also benefiting the locals through job generation,” he added. (PNA)
