PHL launches one-stop-shop business registration

The Philippines on Friday launched the Philippine Business Registry System (PBRS), a web-based one-stop-shop for entrepreneurs that the Aquino administration is banking on to make business registration a cinch.   President Bengino Aquino III on the launching in Makati City.   PBRS represents a significant stride in the administration's continuing efforts to streamline government processes and reduce red tape, deputy presidential spokesperson Abigail Valte said in a statement.   “This system means a level playing field for investors and entrepreneurs, and both small and medium enterprises and corporations will find that it is now easier to set up shop in the Philippines,” she said.   The system integrates the services of agencies involved in registering a business, including the Department of Trade and Industry (DTI), Securities and Exchange Commission (SEC), Social Security System, Pag-IBIG Fund, and PhilHealth.   “A process that once would have taken days, could now be accomplished in a matter of minutes,” Valte said.   With PBRS, proprietors can register business names, generate or validate tax identification number (TIN), and get employer registration numbers from SSS, PhilHealth and Pag-IBIG Fund, according to Malacañang.   The local government unit (LGU) of Quezon City is already linked online to the system, with the cities of Caloocan and Mandaluyong expected to connect to PBRS in the coming months.   The Aquino administration expects to attract more investors with the system in place, for the Philippines to improve its ranking in global business competitiveness.   At the launching rite, the President was briefed on client applications. He also witnessed the awarding of citation certificates to the heads of  participating agencies, including SEC chair Teresita Herbosa, Pag-IBIG Fund CEO Darlene Berberabe, BIR Deputy Commissioner Lilia Guillermo, and SSS president and CEO Emilio de Quiros Jr.   Trade Secretary Gregory Domingo and Trade Undersecretary Zenaida Maglaya also took part in launching the PBRS, said Malacañang. — Amita Legaspi/VS, GMA News