The National Competitiveness Council (NCC) is pushing for the implementation of “Project Repeal,” which seeks to eliminate laws that place a heavy regulator burden on companies and reduce the overall competitiveness of businesses in the country.
Guillermo Luz, NCC co-chair for the private sector, said in a briefing last week that Project Repeal would create a systematic way to repeal laws that mandate additional, burdensome procedures that often breed inefficiencies and higher costs.
Project Repeal hopes to further lower the cost of doing business in the country, lessen the regulatory burden, “unbureaucratize” the system, cut red tape and reduce the cost of enforcement.
According to Luz, there have been initial discussions with offices of interested legislators who can champion the project in Congress and the Senate.
Interested lawmakers include Sen. Paolo Benigno Aquino IV, who is also the chair of the Senate committee on trade, commerce and entrepreneurship.
“There are so many laws. We will start collecting ideas and identify which ones should be repealed and then set up the structure. By next year, we hope to work with Congress on the repeal process and the design structure for this. We will take a look at different models (or repeal processes) such as those (implemented in) Australia, Mexico and Korea,” Luz added.
Meanwhile, the Philippines remained on track to moving up to the top third of the global rankings by 2016, having recorded gains in seven out of 12 competitiveness reports this year.
“We’re definitely on track. We’re now on the median or the midpoint and we need to move it up. But this requires a big jump, but we’re convinced that we can do it by 2016,” Luz said.
The NCC expanded the list to cover more global competitiveness reports in 2014 in an effort to more effectively diagnose areas that need improvement.
In 2013, the Philippines registered gains in seven out of eight major global rankings that were tracked.
“We have kept the momentum going in seven out of 12 reports, but have noted some setbacks in five. Among the seven, the Philippines posted the biggest improvements in the Asean over three years in the World Economic Forum Global Competitiveness Report (where the country rose 33 notches); Global Enabling Trade Report (up 28 places); World Bank-International Finance Corp. Doing Business Report (up 53 places); Transparency International Corruption Perceptions Index (up 49 places); and the Heritage Foundation Economic Freedom Index (up 26 places),” Luz reported.
“The declines, on the other hand, point to the need for improvements in areas like infrastructure, education, research and development, and disaster response,” he added.