Overly burdensome regulations stifle businesses which adversely affects the competitiveness and growth of an economy. For this reason, cutting red tape has become a policy priority of the incumbent administration as part of its agenda to improve the Philippines' business climate and attract trade and investments.
An early policy achievement of the administration is the signing of a landmark ease of doing business law by the president in 2018 which mandates the government to streamline administrative processes to improve overall regulatory quality. Fast forward and amidst the ongoing pandemic, another key piece of legislation was signed into law allowing the president to expedite the issuance of government permits during national emergencies. More recently, the Anti-Red Tape Authority (ARTA), together with other government agencies, launched the first phase of the central business portal to serve as a one-stop-shop for business registrations as part of its "whole-ofgovernment" approach to reduce overlapping and unnecessary administrative burdens.
Undeniably, the government's campaign of regulatory guillotine remains a work in progress and requires the buy-in of all stakeholders including the private sector to see long-term gains. Putting in place a seamless regulatory environment and efficient delivery of government services is crucial to rallying more investments at a time of subdued economic activity brought about by COVID-19.
Join us for an online session with ARTA on its current initiatives and proposed policy reforms to simplify administrative procedures in the "next normal" of doing business in the Philippines. The webcast will also feature speakers from the Organisation for Economic Cooperation and Development and the United Nations Conference on Trade and Development as they delve deeper into best practices on regulatory reforms in other countries and how such success stories could visibly translate to economic benefits in the form of increased trade and investments, job creation, and overall competitiveness.