MANILA, Philippines—Metro Manila hopes to "harmonize and synchronize" business licensing in all its cities by next year to allow for faster and easier processing that would attract more investments, Mandaluyong City Mayor Benjamin Abalos Jr. told the Joint Foreign Chambers Wednesday.

At the joint chambers' trade fair in SM Megamall, Abalos also thanked the representatives of the foreign businessmen continuing to "have faith in the country...(and) remain here to help the economy."

Abalos, who heads the League of Cities of the Philippines, said Metro Manila mayors have agreed to a "uniform" set of rules to shorten the licensing process from four months to about two to three weeks.

He said the new set of rules may be in force in January after the technical working group formed is able to finalize it.

Abalos said the proposed new set of rules is in response to a World Bank report ranking the Philippines low in terms of ease in starting a business enterprise.

"With this, the Philippines would rank better. Metro Manila would be a showcase," the city mayor said.

Abalos said the Metro Manila mayors are coordinating with the Departments of Trade and Industry, Environment and Natural Resources, and Interior and Local Government to curb bureaucratic red tape.