Monday, September 24, 2018
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Gov’t launches data bank to cut red tape

/ 05:05 AM December 05, 2017

The government on Monday launched the “Philippine Business Data Bank” that will let businesses apply for and renew permits in a shorter period of time.

The Department of Finance said the digital platform, which will allow online sharing of information across several government agencies, was rolled out together with the departments of Information and Communication Technology (DICT) as well as the Interior and Local Government (DILG).


The system will also include the participation of the Department of Trade and Industry, the Securities and Exchange Commission, economic zones, as well as more than 1,600 local government units.

“The launching of the Philippine Business Data Bank system is among the initiatives of the DOF as lead agency of the government’s anti-red tape program to improve the ease of doing business in the country,” Finance Undersecretary and anti-red tape czar Gil S. Beltran said in a statement.

“With the Philippine Business Data Bank, government agencies can readily access data on a particular business, eliminating the need for business owners to bring numerous documentary requirements when transacting with the government,” Beltran explained.

In particular, the data bank will allow agencies to verify the existence of a business entity using a single reference document, the DOF said.

“The information in the Philippine Business Data Bank database will initially be provided by the DTI, the SEC, the Cooperatives Development Authority and LGUs, starting with Quezon City,” according to the DOF.

In the future, the Philippine Business Data Bank will include business data of economic locators in the Philippine Economic Zone Authority and the other ecozones across the country, the DOF added.

Besides government agencies, the general public can also verify whether or not a business exists as the system may access data from various sources, the DOF said. —BEN O. DE VERA

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TAGS: Business, departments of Information and Communication Technology (DICT), Philippine Business Data Bank
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