Binay presidency will make PH investor-friendly – Teves
A Binay presidency promises to be a hit among local and foreign investors.
Under the administration of Vice President Jejomar Binay, business registration process will be
shortened from 16 steps in 34 days to 6 steps over 8 days, United Nationalist Alliance ( UNA) treasurer Margarito Teves bared in a business forum
“We need to continue making it increasingly easier for investors to do business in the Philippines. A Binay presidency will endeavor to shorten the business registration process from 16 steps in 34 days to 6 steps over 8 days,” Teves said as he explained how Binay intends to make national policies easier for investors so they may set up shop in the country.
“A policy environment that is more conducive to business will allow local and foreign firms to thrive in the Philippines,” noted Teves, a former Finance secretary.
“This, in turn, will attract more capital, generate more jobs, and provide additional revenues to enable the state to take better care of the poor and marginalized,” he added.
The UNA official – believed to be a shoo- in for a Cabinet position if and when Binay wins the Palace race in May – said it’s imperative that investors don’t lose the Philippines in their radar.
Accelerate infra projects
He added that a Binay administration will seek to accelerate the implementation of infrastructure projects in the countryside in order to complement an industry dispersal program
This will be done on top of securing an affordable and reliable power supply for the manufacturing and export sectors. Such will make the Philippines be more regionally competitive.
Binay had lamented in past interviews the high costs of power in the county, and how this has discouraged businesses from opening here.
“One- stop shops will also be established to simplify the application process – from the 165 required signatures that take a minimum of 2 years – and accelerate the construction of new power plants,” Teves further said.
The former Finance boss reiterated the Vice President’s plan of reviving mining as an industry.
Large environmentally and socially responsible mining investors, Teves said, will be attracted by ensuring mining taxes in the country are fair and consistent with international best practices.
The Philippines is considered as having one of the biggest mining potentials in the world, with untapped deposits worth about $840 billion, according to a US State department report.
Binay, a former longtime Makati City mayor, has repeatedly bragged about his managerial skills – something that he says his presidential rivals don’t have.
Regular pay for barangay officials
Meanwhile, Vice President Binay has vowed to make it his first priority to turn barangay officials into salaried government employees by using state savings.
He said that under his administration barangay leaders will no longer receive just an honorarium and an allowance but regular salary plus other benefits enjoyed by other state workers.
“Giving regular compensation to barangays officials is long overdue,” Binay told an assembly of local leaders in San Rafael town.
Source of funds
“Where will the money come from? We will get it from the unused budget. We will release those savings,” said Binay.
Under the law, each barangay chairman receives P1,000 and up monthly honorarium, while council members get P600 and up, depending on the income of their respective barangays.
Binay said he would question the National Economic and Development Authority (NEDA) why village leaders do not receive such compensation but always end up arguing with its officials.
“They just do not want to spend. Savings! Savings! Savings! My God,” said Binay.
No more underspending
In his speech, Binay said underspending will not help in uplifting the lives of the Filipinos, an apparent dig at the current administration.
Under his administration, Binay said there will be no underspending as he stressed the need for a leader who has the capability, experience, and compassion.
“This administration says the economy is very good. This administration says we have billions of savings. Why did it happen? Because the money was not spent. Billions of money you did not spend, how can you uplift the lives of the Filipinos with that kind of leadership?” Binay asked.
He also cited that rehabilitation of areas devastated by typhoon “Yolanda,” which happened three years remains incomplete.
“The fund has been budgeted but was not spent. Is that right leadership?” he added.
Binay also slammed the current administration’s insensitivity to the plight of the poor.
To help the poor and the middle class, Binay reiterated his vow to scrap income taxes for workers earning P30,000 and below per month.
This is seen to benefit some six million public and private workers.
Binay also vowed to continue, reform, and expand the Pantawid Pamilyang Pilipino Program (4Ps) to cover healthcare services. ( With a report from Anna Liza V. Alavaren)