NCC calls for Public-Private Sector Collaboration to Improve Ease of Doing Business

In a dialogue conducted by the National Competitiveness Council and the Department of Trade and Industry, NCC Co-Chairman Guillermo Luz underscored the importance of Public and Private sector collaboration to improve ease doing business in the country. “Improving ease of doing business in the Philippines is an endeavour that involves the not only the Public sector but also the Private Sector―the citizens. We need to work together to reach our goal.”

The dialogue was the venue to convene the public and private sectors, Ease of Doing Business Task Force and the Doing Business Survey respondents, to discuss issues concerning government procedures that pertain to enhancing the efficiency and effectiveness of doing business.

The Doing Business Task Force is targeting to leap to the top 20% of the world rankings in the Doing Business report by 2020 from its current ranking of No. 113 out of 190 economies.

The Task Force’s plan of action involves principally reducing the time needed to get permits and streamlining procedures while lowering the administrative burden or costs to citizens. Other initiatives require legislative action. These include the lowering of minimum paid-in capital for corporations, the creation of single-person corporations, a review of the laws on the protection of creditors’ legal rights and a review of the Corporation Code, as well as the need to for movables, inventory, and other assets to be used as collateral. A draft bill known as the Secured Transactions Act as well as the amendment of the Corporation Code are up for approval in Congress and Senate.

“However these will only happen if we work together, the public sector to implement the reforms, and the private sector, the customers, to give feedback and recommendations,” according to Luz. “This work requires a lot of collaboration”.