Thursday, July 22, 2010

I must say the wait is worth it! I am talking about tonight’s PCCI General Membership Meeting where Secretary Gregory Domingo, Department of Trade and Industry, is the guest speaker. He was late (not because of the lack of wang –wang but because of the ongoing cabinet meeting) but it is forgivable. My point is to listen to some policy changes that he plans to implement in the department.

I am not disappointed. He reiterated some of the plans that will take place “in the near future” (the bold words are his favourite; he uttered it many times during his talk). Here are some that might interest you:

  •  Fast Tracking of the business registration turnaround time
  •  Creation of the Philippine Business Registry – a sort of directory of the population of the all companies existing in the country
  •  Focus on certified DTI SMEs that has undergone training and has shown potential for growth, they will be supported of funds and trained further if they pass profitability and marketability metrics of the government
  •  Protection of the consumer
  • Importation fast tracking system to our importers who have good records
  • Tight monitoring of the Implementing Rules and Regulations of Trade Agreements that will favour to our country’s interest
Very few but needed and doable action plans. Although I just would like to comment that something must be done to address our Business Competitiveness Ranking, we are now rank 87. Vietnam which last year was rank 70, which we are following (we are rank 71 last year) has improved to rank 57. As you can see we have deteriorated.

Honourable Secretary Gregory Domingo we hope you can do something about it. We have so much potential, we just need strong fundamentals.

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