Penang is set to develop an economic agenda called The Penangprenuer Agenda (TPA) aimed at promoting innovation and fostering creativity among entrepreneurs. The agenda will include an entrepreneurial database that incorporates information on grant assistance, programs, projects, and initiatives carried out by both federal and state agencies. Its primary objective is to facilitate the dissemination of information and the distribution of grants to urban and rural entrepreneurs. Additionally, TPA will provide opportunities for residents to pursue a second career in entrepreneurship amidst the ongoing trend of digital transformation. The completion of TPA is expected in early 2024, and it will offer support to entrepreneurs, particularly newcomers, in expanding their businesses and promoting their products through assistance and courses provided by relevant authorities [3189aead].
The Anti-Red Tape Authority (ARTA) in the Philippines is backing the implementation of a pre-approval system for business permits to address long processing times. ARTA Secretary Ernesto Perez suggests that agencies should approve business permits first, with the requirement that pending requirements be submitted within 20 days or risk revocation. This approach is already used in other countries. ARTA aims to reduce processing times to 10 minutes, as seen in some local government units (LGUs) in Singapore. Compliance with the Anti-Red Tape Act and the establishment of electronic business permit one-stop shops in LGUs can help achieve this goal. Currently, only 26 out of over 1,000 LGUs have complied with the law. ARTA plans to conduct joint inspections to validate compliance reports and harmonize figures. The implementation of a pre-approval system is expected to create a more attractive environment for potential investors and encourage voluntary business registration and tax payment in LGUs with efficient processes [8abf0c80].