TO ACCELERATE the flow of investments in Mindanao and in agriculture-based sectors, the Department of Trade and Industry (DTI) is launching the Philippine Business Registry (PBR) in Cagayan de Oro province, an online business name registration system.
Trade and Industry Secretary Gregory Domingo said the PBR and the online business name registration system would not have happened without individual agencies desiring to converge, upgrade their system, and make sure that they are interfaced together.
The PBR is a government project integrating the services of all agencies involved in business registration, such as the DTI, Securities and Exchange Commission, Bureau of Internal Revenue, Social Security System (SSS), Pag-IBIG Fund, Philippine Health Insurance Corp. and other permit and license-issuing offices to facilitate registration.
“This is our gift to small and medium enterprises (SMEs). They cannot afford lawyers nor accountants to register and start their businesses,” Domingo said in a speech read for him by Undersecretary Nora Terrado during the recent Cagayan de Oro Business Forum held in Makati.
Domingo said DTI kiosks for small and medium enterprises have been set up in DTI and in the province informing the SMEs to register their business name. Then, they can get or validate their taxpayers identification number, and get their SSS, Pag-IBIG, and PhilHealth Employer’s Registration Numbers. All these can be done in less than one hour.
Domingo also said that SMEs could also register their business name online using their mobile wallet through DTI’s newly launched e-payment facility.
“The good thing about local government units (LGUs) connecting with PBR is that their process should be streamlined. LGUs must first be ready, willing and able to start converging with the system. I could say that I see that in Cagayan de Oro.” Domingo said.
“Cagayan De Oro [CDO] City is making its mark in the national scene as one of the country’s development bright spots. And today is CDO’s coming out party, bringing the matter of competitiveness to the regional, provincial and city levels,” Domingo said.
Domingo said that indeed, the real strength of the Philippine economy can best be seen not only in its capital markets or in its national institutions, but more importantly, in the readiness of our cities and municipalities, of our enterprises and people to welcome investments and show the world that indeed, the Philippines has no business being poor.