Government vows to fix issues on trade, investments

  • Philippine authorities have committed to remedy issues raised by the international community affecting the country’s trade and investment environment.
  • Trade Undersecretary and Board of Investments managing head Ceferino Rodolfo said the government is accelerating and deepening policy reforms that were started in past administrations toward greater liberalization, while also enhancing the continuous effective implementation of obligations and enforcement of rules as well as ensuring an environment where it is easy to do business and free of red tape.
  • To cut red tape in the country, Rodolfo said Project Repeal was launched in Mar 16 and, to date, three repeal days have been conducted where an aggregate of 4,837 policy issuances were reviewed with a view to repealing outdated rules and therefore reducing the time and cost of doing business.
  • “But what is generating excitement as it will no doubt prove to be a game-changer, both Houses of Congress have passed the Expanded Anti-Red Tape Act and this is now with the Office of the President for consideration and signing. This bill covers all agencies – local and national – issuing permits and licenses, and mandates specific shortened processing periods for categories of permits and license,” Rodolfo said.

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