LESS convenient and slow business permit acquisition remains to be one of the pressing problems surfacing in business transactions in the Philippines, a trustee of Davao City Chamber of Commerce and Industry, Inc. (DCCCII) said.
According to DCCCII trustee Arturo Milan, ease of doing business is important in order to have good business transactions with interested foreign investors. He said it wouldn’t matter how high the investment potential of a certain nation is if the business permit acquisition takes too long to be approved.
“Even how highly potential in terms of investment, if the ease of doing business or the acquisition of business permit is a problem, it will still be inconvenient. Of course in Davao City, we don’t have that, but in other areas, we may have. Businessmen don’t have the luxury of time. Time is always money for businessmen,” said Milan.
He added during the term of President Rodrigo Duterte as mayor of Davao City, he made sure that specific government offices can issue permits within 72 hours to avoid unnecessary delays.
“He is also doing that in the nationwide level. Those permits that used to be released in a couple of months would be shortened to only a month,” Milan said, adding even with the great outpour of interested investors in the country, the Philippines still has a lot to work on especially with its bureaucracy.
Milan also said the frequent questions interested foreign investors are asking are on power sufficiency, internet connectivity, air linkages, and the ease of doing business. These topics will be further discussed by invited guests on the 4th Davao Investment Conference on July 21 to 22 at the SMX Convention Center, SM Lanang Premier.