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Economic Development Cluster endorses PEDP 2018-2022 for approval of President Rodrigo Roa Duterte

The Economic Development Cluster, in its meeting last 14 June 2018, strongly supported and endorsed the Philippine Export Development Plan (PEDP) 2018-2022 for approval of President Rodrigo Roa Duterte.

Trade and Industry Secretary Ramon M. Lopez, Chair of the Export Development Council (EDC) eyes the approval of the PEDP 2018-2022 soon.

The PEDP 2018-2022 is a five-year roadmap that identifies three strategies and action plans to reach the country’s export targets of US$ 122 Billion in 2022.

The first strategy dwells on the government’s goal of improving the overall climate for export development through removal of unnecessary regulatory impediments, enhancement of trade facilitation, improved access to trade finance and export competitiveness.

The second strategy will exploit existing and prospective opportunities from trading arrangements. DTI has programs that aim to increase awareness on various opportunities offered by free trade agreements that the Philippines currently enjoys. In the new PEDP, the strategy proposed a dedicated program like DTI’s Doing Business in Free Trade Areas (DBFTA) to strengthen promotion efforts to prospective and existing exporters.

Lastly, the plan proposes the crafting of comprehensive packages to promote select products and services for export.

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PHILEXPORT- Cebu now endorses Travel Tax Exemption applications

The PHILEXPORT-Cebu Chapter can now endorse applications of its members for travel tax exemption.   The Technical Working Group on EO 589 Exempting Exporters for Travel Tax Exemption (TTE) recently approved the request of PHILEXPORT-National for the additional signatories from PHILEXPORT- Cebu. This is to facilitate the release of TTE certificate by the Tourism Infrastructure and Enterprise Zone Authority (TIEZA). PHILEXPORT-Cebu may now endorse TTE applications directly to the Export Development Council which monitors and oversees the implementation of the Executive Order.

Under EO 589, exporters who will travel abroad to participate in international trade fairs  and exhibitions are entitled to TTE.

Exporters in Cebu may contact PHILEXPORT-Cebu at telephone numbers (032)254.4333/ 254.9266/254.433 or email at info@philexportcebu.org

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Ease of Doing Business Act of 2018 seen to shorten government processes

President Rodrigo Duterte has signed into law the Ease of Doing Business (EODB) and Efficient Government Service Delivery (EGSD) Act of 2018. The new law will shorten the number of days in processing permits and licenses of all business-related transactions in the Philippines.

Signed on May 28, Republic Act (RA) No. 11032 also includes stricter rules like the two-strike policy that any violation will warrant penalties and liabilities for government officials who fail to issue permits in the given period.

The provisions of the law were highlighted in the 6th Annual Ease of Doing Business Summit recently held at the Philippine International Convention Center in Pasay City.

RA 11032 amends Republic Act No. 9485, otherwise known as the Anti-Red Tape Act of 2007.

Under this Act, businesses can expect streamlined processes; reduced processing times from all government agencies, including government-owned and controlled corporations (GOCCs). Government agencies shall be made to comply with the prescribed processing time: three working days for simple transactions, seven working days for complex transactions, and 20 working days for highly technical transactions.

Apart from streamlining, the law also provides for the creation of a central business portal that will receive and capture application data on business-related transactions, while a Philippine business databank will provide LGUs and national government agencies access to information to verify the validity and existence of businesses. With this, businesses are not required to submit the same documentary requirement previously submitted