Former Senator Bongbong Marcos saying a prayer in an undisclosed church with mother former FL Imelda Marcos.
By Junex Doronio
AMID THE PANDEMIC, former Senator Ferdinand “Bongbong” Romualdez Marcos Jr. has urged for the elimination of “red tape” that unnecessarily complicates business transactions and hampers foreign direct investments in the country.
In his Vlog, Marcos noted that the Philippines lagged behind other countries in Southeast Asia that stand to benefit from the ongoing trade war between the United States and China.
“Natatalo tayo sa Thailand, South Korea, Taiwan, sa lahat ng karatig na bansa,” Marcos lamented when it comes to stiff competition on luring foreign investors.
The former senator said some foreign investors had complained about the complicated paper works and lengthy processes in business transactions in the Philippines compared to other Southeast Asian countries.
“Mas madali magtayo ng negosyo, mas madaling magpasok ng pera, mas madali ang magsimula ng investment sa kanilang bansa,” Marcos said.
The former senator cited the need to implement the Republic Act 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 that aims to streamline the current systems and procedures of government services.
Marcos lauded the law that specifically aims to reduce processing time, cut bureaucratic red tape, and also eliminate corrupt practices.
Processing time for government agencies and government-owned and controlled corporations is three working days for simple transactions, seven days for complex transactions, and 20 working days for highly technical ones.
“Mabilis, maayos, at tama na mga transaksyon ang kailangan natin mula sa lahat ng tanggapan ng ating pamahalaan, upang manumbalik ang tiwala ng ating mamamayan at pati na ang mga dayuhang negosyante,” Marcos stressed.