Lawmakers have approved a substitute bill that will shorten the documentation of business permit applications.
The House Committee on Trade and Industry recently approved an unnumbered bill that will result in a maximum processing time of one working day for barangay (village) applications, three working days for simple applications and 10 working days for complex applications from the time of their receipt.
A maximum of 30 working days will be given to special types of businesses where a technical evaluation or a similar process is needed for the issuance of a license.
The application will be automatically approved if a government unit or agency fails to process the application within the period.
According to the bill, this will be possible through the proposed computerized Business Permitting and Licensing System, which will allow city and municipal governments to automate processing of permits and licenses.
The bill also proposes the establishment of Business One Stop Shop, which will enable city and municipal governments to receive and process manual or electronic submission of license, clearance or permit applications.
According to Camarines Sur Rep. Luis Raymond Villafuerte, an author of the bill, it is time for the country to come up with simplified business procedures because it will result in rapid growth of foreign investments.