Marcos vows improved ease of doing business

President Ferdinand “Bongbong” Marcos Jr. on Thursday said the government will work to improve the ease of doing business in the country to help attract more investors.

Speaking at the 48th Philippine Business Conference and Expo in Manila, Marcos said his administration targets to make the Philippines a "top investment destination."

“We continue to harmonize efforts of all investment promotion agencies, government agencies and local government units (LGUs) to effect greater synergies. We also continue to help in the ease of doing business in the country,” he said.

“We are doing this by enhancing our digital infrastructure in order to streamline application processes, business permits, licenses and other documentary requirements,” he added.

Marcos also welcomed the wish list presented by the Philippine Chamber of Commerce and Industry (PCCI) containing 10 policy recommendations that the group hopes the president would address.

He expressed gratitude to the PCCI for its commitment and support in voicing the interest and concerns of various business groups in the country.

"I am much gratified that when I heard the enumeration of those 10 resolutions that they are very much in line with the government’s thrusts and the government’s directions that we feel will be the most advantageous for the Philippines,” Marcos said.

“And in that regard I assure you that the concerned agencies will assess the feasibility and probability of success of these recommendations. Of course, we recognize the fact that our businesses cannot thrive alone, thus it is my commitment to foster a sound environment where businesses can flourish and continue to be a driver of our economic growth,” he added.

Marcos said the government is also committed to develop renewable energy to ensure adequate power supply and address increasing electricity costs.

“We do these by revising the renewable energy law’s implementing rules and regulations to secure energy supply in the country and attract foreign investment for renewable energy development,” the President said. 

“It is necessary that we make these changes because the technology for renewable energy has moved forward so quickly that we have to catch up with our regulations, with our monitoring of our renewable energy sector,” he added.

PCCI president George Barcelon earlier said that the resolutions were firmed up after four months following a series of dialogues with their members all over the country.

The resolution, according to the PCCI, “captures the collective aspirations and expectations of the Philippine business community [toward] the new administration as it steers the direction of the Philippine economy rebounding from the pandemic."—LDF, GMA News