To step up the country’s competitiveness, the Department of Trade and Industry (DTI) yesterday launched the Philippine Business Registry (PBR), a web-based system that will ensure faster and more efficient business registration processes for entrepreneurs.

The PBR, which was targeted to streamline business registration in order to curb corruption and eliminate red tape, will serve as a one-stop shop for entrepreneurs who need to transact with several agencies to be able to start operating a business.

“Through the PBR, applicants do not need to physically go to each agency to register their businesses as they will now be interlinked thru the PBR,” the DTI said.

Trade Secretary Gregory Domingo demonstrated to President Benigno Aquino III, who witnessed the launching yesterday, how the PBR can be used by an applicant.

Domingo explained that the use of the PBR will help cut down the period for business registration to as short as 30 minutes, from the previous registration process that normally took several days. This will also allow the applicant to already secure as many as five permits as the PBR links various agencies including the DTI, Bureau of Internal Revenue (BIR), Social Security System (SSS), Home Development Mutual Fund (Pag-Ibig), Philippine Health and Insurance Corp (PhilHealth) and the Securities and Exchange Commission (SEC).

“This system aims to establish a fully secure national business registry database which will integrate information from different government agencies and facilitate seamless transactions among agencies by providing a single window for online business registration across agencies,” the DTI explained.

“With fewer steps and faster process, PBR will be able to strengthen the government’s effort of providing quality service to the people and realize its commitment to curb corruption and reduce red tape in the bureaucracy. Through the PBR, the country will become more attractive to investors and will improve our ranking in global competitiveness,” the agency further added.

According to the DTI, the launching Friday was only the first phase of the PBR program.

This year, the government targets to have local government units and other regulatory offices connected to the PBR. So far, only the local government of Quezon City is connected with the PBR system, according to the DTI.

Cities with streamlined business permits and licensing systems like such as Caloocan and Mandaluyong, meanwhile, are expected to be linked with the PBR in the next few months.

original source: business.inquirer.net