NEDA Pushes Repeal of Ineffective Laws, Regulations to Boost Competitiveness

Manila Bulletin, June 11, 2015 | Go to article overview

NEDA Pushes Repeal of Ineffective Laws, Regulations to Boost Competitiveness


The National Economic and Development Authority (NEDA) is pushing for the repeal of ineffective and counter-productive laws and regulations to boost the country's competitiveness and encourage investments.

"Existing regulations that are not responsive towards improving the ease of doing business in the country should be reviewed and amended. Likewise, proposed laws and regulations that impede trade, investment, and economic efficiency should be eliminated," said Economic Planning Secretary Arsenio Balisacan in a response to Senate Resolution No. 170 and No. 696 by Senators Miriam Defensor-Santiago and Grace Poe.

Senate Resolution 170 directs the conduct of a Senate inquiry on strengthening the Philippines' capabilities in doing business according to the standard set by the World Bank (WB) and the International Finance Corporation (IFC).

Meanwhile, Senate Resolution 696 proposes the review of existing laws to consider the repeal of duplicate, irrelevant, and unnecessary regulations to streamline procedures, ease the cost of doing business and sustain economic growth.

Balisacan said it is high time that government conducts detailed and systematic appraisal of laws and other regulations to eliminate obstacles to the country's competitiveness and growth.

"Regulatory impact assessments (RIA) and other such tools and mechanisms are important for determining whether a law or regulation is effective in achieving its stated objectives," he said.

Balisacan noted that countries that have used RIA such as Malaysia and Mexico have proven that the method is effective in improving regulations and in addressing issues of competitiveness and economic performance. Countries that have applied RIA have consistently fared well in ease of doing business rankings, he said.

"Many laws are well-intentioned but turn out to be counter-productive or unenforceable. Some have already become irrelevant or outdated. Through regulatory impact assessments, we can ensure that laws and regulations are responsive to our needs and do not impose unnecessary costs. …

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