Ease of doing business law nears enactment

MANILA - The Bicameral Committee has successfully harmonized disagreeing provisions of a measure that could very well shoot up investor preference for the Philippines through the roof, House Appropriations Committee chairman Davao City Representative Karlo Nograles said.

Successfully consolidated by the House of Representatives and Senate were House Bill (HB) No.6579 and Senate Bill (SB) No.1311, resulting in the proposed measure titled, "The Ease of Doing Business and Efficient Government Service Delivery Act of 2018."

The measure seeks to amend Republic Act (RA) No.9485, otherwise known as the "Anti-Red Tape Act of 2007."

"Nothing attracts foreign investors to a country like having the government's assurance that the processing and release of licenses and permits would be fast, hassle-free, and efficient. Even local businesses are bound to thrive with this new law in place," Nograles said.

Nograles was part of the House contingent in the Bicameral Committee that approved the consolidated version. The Appropriations chairman was also a principal author of HB No.6579, which was approved on third and final reading by the Lower Chamber in November 2017.

The consolidated bill covers business-related transactions (and other transactions specified by the Act) from all government offices and agencies including local government units (LGUs), government-owned or controlled corporations (GOCCs) and other government instrumentalities, whether located in the Philippines or abroad.