Mandatory digitalization to...

Marcos also lauded ARTA for being a “disruptor of negative norms and practices in the bureaucracy.”

The president cited the agency’s streamlining of regulations and processes in the telecommunications sector, which he said paved the way for smoother operations and enhanced connectivity in the Philippines.

He said the number of required permits for the sector has been reduced from 13 to eight while that of the documentary requirements has been cut from 86 to 35. The turnaround time has also been cut drastically from 241 to 16 working days, he added.

“ARTA has effectively facilitated the rapid deployment of telecommunication infrastructure across the land,” Marcos said.

Salceda, chair of the House Ways and Means Committee, said he raised some suggestions that the executive branch could address in the IRR for the Maharlika fund.

He said that the Philippines could involve multilateral financing institutions like the World Bank and Asian Development in setting up the fund to “bring in not only capital, but also experience, institutional expertise, and international credibility to the Fund.”

Salceda also suggested a provision to have the fund listed on the Philippine Stock Exchange, which, he said, would mean more transparency and accountability for the investment fund. (Philstar.com) n