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Region 8 launches National Economic Research and Business Action Center

By Philippine Information Agency (PIA 8)
April 1, 2010

TACLOBAN CITY  –  Regional Officer in Charge Desiderio Belas Jr. of the Department of Trade and Industry Regional Office 8, informed that the National Economic Research and Business Action Center or NERBAC 8 is scheduled to be blessed on April 6, 2010.

NERBAC 8, Director Belas said, is located at the DTI 8 Regional Office Building at Pawing, Palo, Leyte.

The blessing is set at 1:00 o’clock in the afternoon. The program which will follow after the Mass will be highlighted by the signing of the NERBAC Memorandum of Agreement and the presentation of the updates from R)DG Usec Merly M. Cruz, Director Belas added.

The National Economic Research and Business Action Center (NERBAC) in Eastern Visayas hopes to accelerate entry of investment and to improve the business environment of the region.

NERBAC is expected to answer the call of the business sector in the region for a coordinated and facilitative government support for investment promotion and for businesses to operate and grow by providing them timely and relevant business information.

A one-stop action center envisioned to reduce the processing time and cost of acquiring business permits and licenses by pooling all the government agencies' representatives involved in licensing and registration under one roof, NERBAC will collect and disseminate economic, technical and industry information useful for business enterprises and investors.

It also aims to identify and promote investment opportunities in accordance with the investment priorities of the government for possible business match-up and improve the business environment through policy and regulation reforms advocacy.

Specifically, NERBAC will include the following services: Investment Promotion and Business Information Management to handle investment promotion and provide assistance on the preparation of business plans and maintain information database of all the concerned sectors.

One Stop Business Registration and Licensing will process mandatory permits and licenses for start-up business with participating agencies, such as the local government unit (LGU) of Cagayan de Oro, DTI, BIR, SSS, DOLE, PHIC, HDMF, CDA, IPO and PCAB.

Export Documentation will streamline processing of the required export permits, through the facilitation of member agency representatives and other export-related agencies, such as Philexport-10 and the Bureau of Customs (BOC).

Incentives Facilitation will enable investors to avail of the Bureau of Investments (BOI) and local investment incentives including the processing of investor visa and other BOI registration.

Economic Research will also be conducted to actively gather and provide research information and materials to both potential and existing businessmen and maintain an inventory of financing facilities available for business expansion.