LA TRINIDAD, Benguet, July 30(PIA) - - The business sector has big contribution to the economy of this town which is recognized of its relatively good competitive standing.
Business Licensing Officer Lawrence Balud reported that 56 percent of the local government’s revenues are generated from the business sector making the local government unit (LGU) not fully reliant from the internal revenue allotment of the national government.
Balud said the province takes pride of the LGU as not fully IRA-dependent, as he encouraged the entrepreneurs who attended the 3rd Entrepreneurs’ Summit held last week at the Municipal Gymnasium to register their businesses and pay the necessary permits.
Processing of business permit is now fast and easy if requirements are complete. This is due to the streamlining of government transactions which started in 2011. From the original 23 face-to-face encounter with each of the businessmen, it was collapsed into only four, Balud said.
La Trinidad’s overall competitive index through the years is relatively good. Competitive index gauges productivity in terms of economic dynamism, government efficiency in the delivery of services to business clients and the presence of enough infrastructure catering to the processing of permits government efficiency, infrastructure. Resiliency to disaster is also a measure incorporated in the overall competitive index.
Since 2013, the highest overall ranking La Trinidad garnered was 14th in 2016 among 490 municipalities. It ranked 26th among 462 municipalities in 2015.
Balud is hopeful that the LGU’s ranking in the aspects of government efficiency and resiliency will improve to obtain a higher overall ranking with collaborative efforts of the business sector and the concerned government agencies. (PIA Benguet)