DTI streamlines registration process

The Department of Trade and Industry (DTI) is streamlining its registration procedures to allow a smoother flow of investments, Trade and Industry Secretary Peter B. Favila said yesterday.

Favila said the Department of Trade and Industry-Board of Investments (DTI-BOI), Subic Bay Metropolitan Authority (SBMA) and Clark Development Authority (CDC) have signed a memorandum of understanding (MOU) whereby DTI-BOI deputizes the SBMA and CDC to receive and evaluate applications for BOI registration that are locating in their areas.

Trade Undersecretary and BOI Managing Head Elmer C. Hernandez said that the agreement aims to provide a seamless investment processing for incoming businessmen that are applying for government incentives.

President Arroyo had earlier placed the CDC and SBMA under the policy supervision of the DTI.

Hernandez said that SBMA and CDC would form a team to harmonize application forms, documentary requirements, and evaluation procedures of BOI.

The BOI would orient and train SBMA and CDC personnel on BOI registration and supervision system.

Under the agreement, SBMA and CDC would accept and evaluate applications from enterprises which are qualified for BOI registration under the existing Investments Priorities Plan. Registration applications would be evaluated by SBMA and CDC within one day and submit the processed documents to BOI the following day.

The BOI has the final approval on the project registration.

Although SBMA and CDC are deputized, the BOI would still continue to exercise its supervision and monitoring functions to all BOI-registered enterprises.

Favila said the government is making the environment friendlier to business since the enhanced registration system is more convenient for businessmen as they would not have to shuttle from CDC and SBMA to BOI to process their papers.

"We are constantly studying our system to cut down red tape and hasten the location of more business in the country," Hernandez assured.

Signatories to the MOU were Hernandez for BOI; Chairman Feliciano G. Salonga and Administrator and chief executive officer (CEO) Armand Arreza for SBMA; and Chairman Rizalino S. Navarro and president and CEO Antonio R. Ng for CDC.