Thursday, August 26, 2010
One Stop Shop Business Registry to Cut Red Tape in RP
Business registration will be easier and a lot faster once the Philippine Business Registry project is implemented.
Department of Trade and Industry-PBR Program Manager Whilmer Morales is now holding a press conference at the Philippine Information Agency, to report on the update of the project, which is expected to be implemented before end of the year.
The PBR is the Philippine government's response to the World Bank report stating that it takes 50 days and 11 processes to register a business in the Philippines.
"This will not only hasten the business registration process but will also lessen red tape in government," he said. The small and medium enterprises are expected to benefit from this program.
Once implemented, the business owner can register his business with the Department of Trade and Industry, which will act on the application in one day. DTI will then pass the documents to the different agencies concerned like the local government unit concerned, Philhealth, SSS, Pag-Ibig and Bureau of Internal Revenue among others.
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