DTI-NERBAC Davao pours P8-B for business registration processing project

DAVAO CITY, Jan. 6 (PNA) -- The Department of Trade and Industry (DTI) in the Davao Region has reported a total of P8 billion worth of investments poured into the region’s business registration processing project.

Teolulo Pasawa, DTI’s National Economic Research and Business Assistance Center (NERBAC) director, said the project has solved one of the major problems of businessmen in starting a business who usually run into red tape.

Pasawa said DTI-NERBAC Davao is an inter-agency, one-stop business center that provides assistance in registration and investment facilitation to start-up businessmen.

It also caters to services like investment promotion, investors' assistance, incentives, business registration and licensing, knowledge management, and one-stop export documentation center.

He said DTI reported that one of the best impacts of the project is the reduction of business registration processing time from 15 to 30 days in 2005 to just one to two days in 2008 region-wide.