News » Newly-amended Anti-red tape law could boost local business – MBCCI

Newly-amended Anti-red tape law could boost local business – MBCCI

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The Metro Bacolod Chamber of Commerce and Industry (MBCCI) has expressed that the local business-enabling environment in the country should be boosted by the newly-signed East of Doing Business Act (Edba) of 2018, the amended anti-red tape law. MBCCI CEO Frank Carbon said the amended legislation will help to streamline doing business, and will attract more investors, especially foreign companies, to come and invest in Negros. Along with the power industry, most developments in Negros Occidental are in tourism and business process outsourcing. The newly-amended anti-red tape law introduces simplified requirements and streamlined procedures in starting up businesses; cuts the number of days for business permit applications, and limits the number of signatories needed for applications for licenses, clearances, permits, certifications and authorizations to a maximum of three. By enabling investors to easily set up in the region, Carbon said locals will benefit through the subsequent job generation.

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