THE Philippines is optimistic its partnership with New Zealand (NZ) will be a game changer in its effort toward regulatory reform and in attracting more investment into the country to create more jobs for Filipinos.
Trade and Industry (DTI) Secretary Ramon Lopez expressed this optimism after holding discussions with New Zealand Ambassador to the Philippines David Strachan on government-to-government (G2G) cooperation, touching on the streamlining of regulatory processes to improve ease of doing business (EODB) in the country.
The “Philippines and New Zealand partnership would be a game changer in achieving reform in the country’s regulatory environment in order to attract more investments and create more jobs for Filipinos,” Lopez said in a statement issued on Tuesday.
The Philippines is targeting to rise to between the 58th and 63rd ranks worldwide for ease of doing business.
“We are cutting down further the number of steps and number of days in starting a business,” Lopez said.
The Philippines climbed four notches to 99th in the World Bank-International Finance Corp. Doing Business 2017 report, reflecting a better standing from 103 in the 2016 rankings. The report, released in October of last year, covered 190 countries.
Lopez stressed that efforts are now focused on reducing the number of days in renewing or getting a business permit to one, from two to three.