CEBU - The League of the Provinces of the Philippines has called on the government to build a simplified national business registration system.
In its Resolution No. 2008-019, the league said it “respectfully urges President Gloria Macapagal-Arroyo and the Congress of the Philippines to remove bottlenecks of doing business in the Philippines.”
It also said that there is a need to harmonize business regulations in the country to provide global competitive edge.
Based on the World Bank and International Finance Corporation survey, the Philippines has slipped down from 136th to 140th on the list of 181 economies in terms of business competitiveness.
The resolution said that the cause of the drop in the country’s standing is due to conflicting laws and regulations on bureaucratic requirements, which discourage investors in the country.
The resolution was introduced by Bohol Governor Erico Aumentado and was unanimously adopted by the league last September 12 during a gathering at Marco Pole Plaza Hotel in Cebu City. — Joy Kareen T. Saliente/LPM (THE FREEMAN)