THE House of Representatives has served notice it will keep track of the implementation of economic laws that it passed in 2019.
Iligan City Rep. Frederick W. Siao, chairman of the House committee on civil service and professional regulation, said the lower chamber will monitor the implementation of the Ease of Doing Business (EODB) or the Anti-Red Tape Law.
“We must have in 2020 some major cities and towns online and fully functional as part of the one-stop shop system and database. Initial implementation must be rolled out well and fast,” he said.
For his part, Deputy Speaker Michael Romero said the House will also monitor how the Executive branch will roll out specific components of the Ease of Doing Business Act “because these will create more companies and more jobs.”
Romero said key components of the EODB law should be up and running within 2020, especially the Philippine Business Portal for online, one form, one number, end-to-end mobile registration, as well as the Online Corporate Registration System, Unified Employee Reporting System for Social Security Agencies, Property Registration Portal and Modern Collateral Registry.
President Duterte signed into law the Ease of Doing Business and Efficient Government Service Delivery Act (Republic Act 11032) last May 28, a law that is expected to reduce the processing time for permits, transactions and applications.
Revised Corporation Code
Meanwhile, Romero said Congress will also monitor the implementation of the Revised Corporation Code.
“We will keep close watch to make sure the Revised Corporation Code, as well the new Anti-Red Tape law, are implemented fast and well by all the agencies involved,” he said.
In February, Duterte signed into law a landmark measure updating the decades-old Corporation Code, in a bid to strengthen and simplify corporate governance standards for a more business-friendly environment.
The new Corporation Code will improve ease of doing business in the country by allowing a one-person corporation, removing the minimum capital requirement and providing for a perpetual existence of corporation.
According to Romero, the Congress will also pass more laws to improve the business climate throughout the country.
“The whole economy will keep on running well at a sustained economic growth rate above 6 percent, onward to even 6.5 percent by this time next year and sustainable above 6.5 percent in 2021,” the deputy speaker said.
Oversight
Romero said the congressional oversight functions should be implemented to ensure the proper implementation of the laws.
“We, in Congress, will also exercise our oversight functions to make sure laws we have passed will be executed as approved or even better,” Romero said.
Also, Majority Leader Martin Romualdez said the House of Representatives will exercise its oversight function to ensure that these reforms laws, including Ease of Doing Business law, are being implemented faithfully.
“We, in Congress, also remain committed to the approval of other pending measures required to improve our credit ratings. With these reforms, we trust that our march to progress will be steady and swift,” he said.
Romualdez said the Philippines’s great leap in the World Bank Ease of Doing Business survey is a big boost to the country’s quest for more foreign and domestic investments.
“This [recent improvement of the Philippines in the annual World Bank Ease of Doing Business report] signifies the business community’s confidence in the structural reforms being implemented by the Duterte administration to propel our economy to greater heights,” he said.
“The improvement in our worldwide ranking will definitely lead to more investments, which translate to more jobs for our people. Hopefully, these jobs will not benefit only the urban areas, but also the rural communities in far-flung villages,” he added.