NextGen Day

MANILA, Philippines – Secretary of the Department of Trade and Industry (DTI) Ramon Lopez believes that the new government would continue to encourage the growth of micro, small, and medium companies (MSMEs) and pursue ease of doing business (EODB).

Lopez mentioned MSME development and ease of doing business as important successes of the agency during the Duterte administration in an interview with Net 25 on Thursday.

According to Lopez, the next Congress should recognize the need of providing comprehensive support to MSMEs by allocating funds for training, and financing, enhancing the quality of local products, raising productivity, and integrating them into the larger supply chain.

He further stated that this assistance will help local MSMEs grow faster.

Aside from MSME development, the trade commissioner expects that the incoming administration would continue to push government changes to make doing business in the country even easier.

According to Lopez, the government is required to complete transactions with the public in three days for simple transactions, seven days for complex transactions, and 20 days for highly technical transactions under the Ease of Doing Business and Efficient Government Services Delivery Act, which was signed into law in 2018.

DTI can process online company name registration in as little as eight minutes. According to Lopez, registering a business name with DTI used to take days.

He went on to say that investing in technology and digitization will help the government streamline operations and provide better service to the public.

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