The Department of Trade and Industry’s (DTI), through the Philippine Trade & investment Centre (PTIC)-Singapore, recently held a seminar on online registration for single proprietorship at the investment boot camp hosted by The Global Filipino Investors (TGFI) in Singapore. PTIC-Singapore was represented by Commercial Counsellor Cynthia Ricafort who shared with over 800 attendees.
In February of this year, the DTI launched the Philippine Business Registry (PBR), an online system for entrepreneurs to register single proprietorships and apply for licenses. The objective is to do away with the repetitious process of having to fill up numerous forms and submitting the same official papers to different agencies. The PBR links DTI with the Bureau of Internal Revenue, Social Security System, PhilHealth and Pag-IBIG.
The PBR is one of the DTI’s contributions to the ease of doing business in the Philippines, in line with the administration’s commitment in streamlining processes to improve the country’s global ranking in Ease of Doing Business.
“I am very much looking forward to helping the TGFI bootcamp attendees become business owners. With the PBR, registration is easier, taking only five steps in 15 days, from 14 steps in 34 days,” said Commercial Counsellor Cynthia Ricafort.
TGFI is a community of Filipinos geared to promote financial literacy to improve the financial well-being of its members. The TGFI investors boot camp held at the Singapore Expo was the second global summit of the group and boasted of business experts on personal finance management, stock market, real estate, agribusiness and franchising.♦