News
The Department of Finance (DOF) of the Philippines is finalizing a new, faster system for securing import applications that currently involve more than 60 government agencies, as part of fresh measures to cut red tape and improve the ease of doing business in the country. The government is now consolidating all requirements involving applications for imports to drastically shorten the process and make this new system available online, the DOF said.
The online platform named TradeNet is now being finalized by the DOF with other government agencies to modernize and fast-track the processing of import and export permits and could be available soon. TradeNet aims to connect 66 agencies and 10 economic zones involved in approving import and export permits.
The DOF and the Department of Information and Communications Technology (DICT) are currently working on making the Philippine Business Data Bank (PBDB) fully operational down to the local government level to drastically cut the red tape in business registrations.
The TradeNet program aims to eventually connect this online portal to the ASEAN Single Window (ASW) before yearend. With TradeNet, the application process for imports and exports would be dramatically reduced from months to only a week or even less, the DOF added.
