Survey on challenges facing businesses out soon

CEBU, Philippines — The Cebu Chamber of Commerce and Industry will soon release a survey of its member companies, which will detail the challenges they face in doing business.

CCCI president Virgilio Espeleta said the business community will continue to work with the government in boosting the competitiveness ranking of Cebu and of the Philippines in general particularly in the area of ease of doing business.

"We in CCCI shall draw insights where we need to collaborate and work together with concerned institutions to eliminate or reduce the bottlenecks of business growth and sustainability, hence improving our ranking," the business leader said.

The CCCI board, he said, had earlier approved the plan to conduct an extensive and exclusive survey among its member companies to pinpoint specific experiences, issues, patterns or practices "from where we can likewise be specific in easing and lowering the cost of doing business."

Espeleta cited the top most problematic factors in doing business which include inefficient government bureaucracy, inadequate supply of infrastructure, corruption, tax regulations and tax rates.

He said the business sector is looking to collaborate to ease up these bottlenecks, especially in designing work processes, digitalizing transactions and in advisory capacities with the various government agencies to address the top five most problematic factors in doing business.

While it is the sector's duty to comply with government regulations, he said efficiency in government should encourage more growth and reinvestment.

The CCCI president noted the survey will enable the business sector to recognize and acknowledge the best practices and business-enabling institutions easing and lowering the cost of doing business.

Based on the 2018 city competitiveness ranking nationwide, Cebu ranked 8th overall.

In the area of economic dynamism, Cebu also ranked 8th; 39th in government efficiency; 7th in infrastructure; and 4th in resiliency. (FREEMAN)