By Eden Estopace | Jan 28, 2012

Philippine President Benigno Simeon S. Aguino III presided over the launch on Friday of a web-based business registration system that makes it easier for investors and entrepreneurs to set up shop in the country.

The Philippine Business Registry (BR) integrates the services of all government agencies involved in registering a business -- the Department of Trade and Industry (DTI), Bureau of Internal Revenue (BIR), Social Security System (SSS), Home Development Mutual Fund (PAG-IBIG), Philippine Health and Insurance Corp (PhilHealth) and Securities and Exchange Commission (SEC).

A priority program of the government, the new online system simplifies the business registration process. What would have taken days or weeks to complete can now be accomplished in a shorter time.

"The launch of the PBR represents a significant stride in our administration's continuing efforts to streamline government processes and reduce red tape," said Deputy Presidential Spokesperson Abigail Valte. "Furthermore, this system means a level playing field for investors and entrepreneurs, and both SMEs and corporations will find that it is now easier to set up shop in the Philippines."
 
With fewer steps and faster process, the government expects to curb corruption and reduce red tape in the bureaucracy.

At the local government level, the Quezon City government was the first LGU to be able to connect to the system. More LGUs and other regulatory offices will connect to the system within the year, including the cities of Caloocan, and Mandaluyong. Cities with streamlined business permits and licensing system can link to the program.

DTI, however, explained that the launch is only the first phase of the program. PBR kiosks will also be installed in selected local government units nationwide to facilitate registration in remote areas.

Keeping in step with the times

A World Bank report released in October 2011 that ranked 183 countries based on the ease of doing business put the Philippines in the 136th place. Asian neighbors Singapore and Hong Kong topped the index and analysis showed that in both countries, it requires only 3 simple procedures and takes 3 days to complete a business registration.

In the Philippines, the same process requires 15 procedures and takes an average of 35 days to complete. Of the 10 categories used to measure the countries' performance, the Philippines scored lowest in starting a business, resolving insolvency issues, paying taxes and protecting investors.