Applications for the registration of stock corporations will soon be accepted by the Land Bank of the Philippines as part of government efforts to make it easier for companies to set up shop.
In a statement, Landbank said it had signed a memorandum of agreement (MoA) with the Securities and Exchange Commission, allowing the bank’s branches to accept registration applications of stock corporations.
The MoA was signed last week by Landbank president Gilda Pico and SEC Chairperson Teresita Herbosa.
Finance Secretary Cesar Purisima, who witnessed the signing of the MoA last week at the head office of Landbank in Manila, said in a statement that Landbank branches will start accepting registration applications by September 15.
Landbank and SEC officials said the agreement would make it easier for the public to file registration applications given the extensive branch network of Landbank.
“Through this partnership, Landbank and SEC can contribute to the government’s efforts of promoting businesses and economic activities,” Pico said.
Herbosa added that the MoA would help encourage the establishment of more businesses in the country.
“We are confident this project will encourage Filipino entrepreneurs all over the country, especially in areas where Landbank operates, to formally organize their businesses so they can enjoy the benefits of incorporation,” Herbosa said.