BusinessMirror February 09, 2024

Page 1

Arta targets automating 120 LGUs in 2024 By Andrea E. San Juan @andreasanjuan

P

WORLD | A15

US DRONE STRIKE IN BAGHDAD KILLS MILITIA HEAD RESPONSIBLE FOR ATTACKS ON AMERICAN TROOPS

ROTARY CLUB OF MANILA JOURNALISM AWARDS

2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year 2021 Pro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion

OLITICAL will among mayors is needed to comply with automation requirements for processing of business permits under the Ease of Doing Business law, according to the Anti-Red Tape Authority (Arta). Arta Secretary Ernesto V. Perez stressed this as he revealed that the agency is targeting to automate 120 LGUs this year. The Arta chief stressed, “The requirement to set up an [electronic

Business One Stop Shop] eBOSS... It’s provided for by law, it’s not an option for them; it’s a requirement.” Perez stressed that there is no reason not to comply with the automation requirement, even with some LGUs raising internet connection issues and using the “far-flung” municipality card,among others. To prove his point, he cited the example of San Roque in Eastern Samar, which he said is a “fourth-class municipality” but was able to comply. “So [we need] political will on the part of the mayor to comply with it,” Perez said at a briefing on Thursday

in Quezon City. The anti-red tape watchdog described eBOSS as a single online portal that allows clients to access all necessary services and information for business registration, including submission of applications, online payment, and electronic issuance of pertinent documents. Under Section 11(c) of the law, all LGUs are mandated to set up and operationalize an eBOSS by June 17, 2021, within three years from the effectivity of the law. As of January 2024, Arta revealed that 10 LGUs showed “exemplary”

performance in processing business registrations, posting the fastest processing times. These top 10 LGUs are Navotas City, Valenzuela City, Marikina City, Quezon City, City of Manila, Parañaque City, Malabon City, Pasay City, Batangas City and Balanga City, Bataan. Navotas City posted the fastest processing time, with 20 minutes for processing new permits and 20 minutes for renewal of permits. This was followed by Valenzuela City, which has a processing time of 30 minutes for new permits and 30 minutes for renewal of permits.

BusinessMirror

w

n

Friday, February 9, 2024 Vol. 19 No. 117

See “Arta,” A2

EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR

(2017, 2018, 2019, 2020, 2021) DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS

P25.00 nationwide | 2 sections 26 pages |

FOR 4TH MONTH, PHL GIR

BREACHES $100-B LEVEL By Cai U. Ordinario @caiordinario

T

HE Philippines started the new year with its reserves exceeding $100 billion. This is the second consecutive year in a row that it breached that threshold, based on data from the Bangko Sentral ng Pilipinas (BSP).

The country’s gross international reserves (GIR) level, based on preliminary data, settled at $103.4 billion as of the end of January 2024. In January 2023, the country’s GIR level was at $100.67 billion. The data also showed the GIR level has been above $100 billion for four consecutive months (October, November, December and January) and is gradually increasing. “The month-on-month decline in the GIR level reflected mainly the National Government’s [NG] payments of its foreign currency debt obligations and downward valuation adjustments in the BSP gold holdings due to the decrease in the price of gold in the international market,” BSP said. At the end of October 2023, the GIR was at $101.04 billion and increased to $102.72 billion at the end of November 2023 and $103.75 billion at the end of December 2023. See “PHL Gir,” A2

RESOURCEFULNESS AMID ADVERSITY In Barangay Mahogany, Butuan City, children exhibit remarkable ingenuity as they navigate the submerged streets using a makeshift boat ingeniously crafted from the stem of a banana tree. Constant rains have flooded huge parts of the CARAGA region the past week, forcing the evacuation of thousands. Story in Nation, A4. ERWIN MASCARIÑAS

MORE SWISS FIRMS EYE PHL FOR INVESTMENT–CASSIS By Malou Talosig-Bartolome @maloutalosig

M

ORE Swiss businesses are interested to invest in the Philippines, visiting Swiss Foreign Minister Ignazio Cassis said. He said that since the signing of an FTA between the Philippines and European Free Trade Association (EFTA) in 2018, doing business in the Philippines has become “much easier and attractive”than the previous years. “There is a growing interest by Swiss companies to invest in your country with the free trade agree-

ment between the EFTA families and your country,” Cassis said in his opening statement during his bilateral meeting Thursday in Manila. Aside from Switzerland, other country-members of EFTA are Norway, Iceland and Liechtenstein. Cassis was in Manila for a oneday visit, the first ever trip of a Swiss federal councilor and foreign minister in the Philippines in 16 years. Swiss companies have invested around US$3.1 billion (P170 billion) in the Philippines, employing around 28,000 workers, he said. See “Swiss firms,” A2

₧100 wage hike could raise biz op-ex 15-20% By Joel R. San Juan @jrsanjuan1573

T

HE Department of Labor and Employment (DOLE) is leaving to lawmakers’ discretion the decision of whether or not to approve the proposed P100-daily minimum wage increase for private sector employees. However, Labor Secretary Bienvenido Laguesma said the DOLE together with other agencies such as the National Economic and Development Authority (Neda) and Department of Trade and Industry (DTI) have already submitted their technical inputs on the proposed wage hike. The technical inputs, accord-

ing to Laguesma, project the possible adverse and positive impact of the legislated wage hike on the employment level, inf lation rate, economic growth and operations of businesses. “At the end of the day, let me just go back to my earlier statement that the enactment of laws is within the jurisdiction of the Congress, both the House of Representatives and the Senate. We just implement them but before that we provide technical inputs,” Laguesma explained. “If they will listen to us, thank you. If not, and if they think we are very conservative, then we would leave it up to their judgment. See “Wage hike,” A2

PESO EXCHANGE RATES n US 56.0330 n JAPAN 0.3782 n UK 70.7641 n HK 7.1663 n CHINA 7.7870 n SINGAPORE 41.7129 n AUSTRALIA 36.5223 n EU 60.3756 n KOREA 0.0422 n SAUDI ARABIA 14.9413 Source: BSP (February 8, 2024)


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.
BusinessMirror February 09, 2024 by BusinessMirror - Issuu