The automated Philippine Business Registry’s (PBR) goal, which is targeted for “full operations” by end-2017, is looking to minimize the costs of doing business, said Department of Finance (DOF) Secretary Carlos G. Dominguez III in a press interview Friday.
He described the online facility as “an online system that would serve as a one stop shop for individuals and corporate entities” which his Department is “ready to undertake”.
Aside from cheaper expenses, the PBR would also quicken the procedures “as the public will have access to the Philippines business data bank.”
The DOF chief told reporters that the PBR will help in facilitating smoother, more efficient processes in availing pertinent government documents and services, overshadowing the rigorous manual transactions.
The system is targeted to be “fully operational” by the end of 2017. Once that is met, aspiring and current businesspeople will now be able to register companies, and apply for a business license, as well as to monitor records online, according to Dominguez.
The online government facility shall also be connecting agencies Department of Trade and Industry, Bureau of Customs, Social Security System, PhilHealth, the Pag-IBIG fund, and local government units.
“This registry will help streamline front-line government services by doing away with the repetitious process of applications, having to fill up those forms and submitting them to the different agencies,” Dominguez said.
The PBR was initially launched in 2012 under the Department of Trade and Industry.
Dominguez also found the drop of the Philippines’ World Bank rank to 113rd in ease of doing business disappointing but affirmed progress in “next year’s reform”.
“We said that what is really important is to push the reforms that are required to improve our business. Now this is obviously an effort of the entire government — executive of course is very much involved but so is legislature, and so is the judiciary ,” the Finance Secretary said.
Featured photo from PH Official Gazette