Finance Secretary Carlos G. Dominguez (center) joins CEMEX Holdings Philippines, Inc. (“CHP”) and PSE board members in ringing the bell during the P25.1-billion IPO listing of CHP at the Philippine Stock Exchange yesterday. Cemex’s listing comes amidst the new administration’s policy to invest more heavily in new infrastructure as well as to rapidly disperse growth throughout the archipelago. Photo shows From (L-R): PSE Director Alejandro T. Yu; PSE COO Roel A. Refran; Cemex President for Asia, Middle East and Africa Joaquin Estrada; CHP President Pedro Jose Palomino; Finance Secretary Dominguez; PSE Chairman Jose T. Pardo; PSE Directors Ma. Vivian Yuchengco and Emmanuel O. Bautista, and PSE President and CEO Hans B. Sicat.
The Department of Finance (DOF) has extended to June 30 next year the deadline for government agencies and state-owned and -controlled corporations to transfer their bank deposits to qualified government financial institutions (GFIs).Read More
The Departments of Finance (DOF) and of Budget and Management (DBM) are teaming up with the National Economic and Development Authority (NEDA) on finding ways to accelerate the implementation of Public-Private Partnership (PPP) projects by cutting from an average time of 29 months to below 20 months the time for proponents to actually start their infrastructure projects.Read More
MANILA – A senior finance undersecretary was named “Anti-Red Tape Czar” on Tuesday to speed up transactions in the tax and customs bureaus, Finance Secretary Carlos Dominguez said.
Finance Undersecretary Gil Beltran was tasked to “dramatically reduce the number of steps and documentary requirements” in the Department of Finance and its attached agencies, Dominguez told a business forum. “This will include paying taxes, getting tax refunds, acquiring tax exemption certificates, getting imports released, shipping out exports, registering a business and getting appointments with public officials,” he said. Dominguez said the government would “cut redundancy” in government processes to improve the delivery of basic services and infrastructure.
The include amending the procurement law to streamline processes, simplifying permit requirements for infrastructure projects, creating a “prioritization list” for projects, delineating the delivery between national and local projects and improving the absorptive capacity of key agencies, he said.
Friends and Colleagues:Read More