The Department of Information and Communications Technology (DICT) has launched the Electronic Business Permits and Licensing System (e-BPLS), a cloud-based software that will allow taxpayers to file applications for new business permits and the renewal of business permits online.
In MANILA BULLETIN dated July 21, Department of Trade and Industry Director for Iloilo Diosdado Cadena, Jr. said that micro, small and medium enterprises (MSMEs) need stronger market access and financial access in order to thrive. According to DTI Director Cadena, Marketing is one of the key components that will determine the survival of an MSME. The other components, as listed in the country’s 7M strategy are Mindset, Mastery, Mentoring, Money, Machines and Models.
As reported in the MANILA BULLETIN last July 21, HSBC Philippines President and CEO Jose Arnulfo “Wick” Veloso said financial technology (FinTech) should be viewed as a complement rather than a threat to local banks.
BUSINESSWORLD reported last July 19 that the Insurance Commission is studying a transport group’s call to lower insurance premiums on comprehensive motor insurance, and allow insurance firms to provide credit to jeepney operators.
According to Insurance Commissioner Dennis B. Funa, these requests were made by the Kilusan sa Pagbabago ng Industriya ng Transportasyon (KAPIT) in the face of plans by the Department of Transportation (DOT) to gradually replace traditional jeepneys and jeepney fleets that are over 15 years old with environment-friendly vehicles.
In a BUSINESSWORLD article dated June 28, 2017, Department of Trade and Industry Secretary Ramon M. Lopez was quoted as saying that the Philippines could improve its global ranking for ease of doing business by 2022 with the help of mobile-based automation of the business registration process.
Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. said the BSP will fast-track the issuance of the implementing rules and regulations (IRR) on the recently signed Republic Act No. 10927, which placed casinos under the anti-money laundering law.
According to BSP Governor, the IRR should be in place by the end of the year.
The PHILIPPINE STAR reported last July 17 on the Philippines’ plans to be the third player in the telecommunications industry in the next few years, joining PLDT and Globe Telecom in providing broadband services.
Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. urged members of the Bankers Institute of the Philippines to stay abreast of trends and developments in financial technology (fintech) because these help expand the level of financial inclusion in the country.
In a news article last July 13, MANILA BULLETIN reported on the Philippine Chamber of Commerce’s call to the Association of Southeast Asian Nations (ASEAN) to strengthen their networks and address their weaknesses in the face of growing competition.
George T. Barcelon, president of the Philippine Chamber of Commerce and Industry (PCCI), said that while the micro, small and medium enterprises (MSMEs) have much to gain from free trade agreements, these also pose potential threats in the form of increased competition from bigger competitors.