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Friday, August 11, 2006
DTI prepares for creation of agency to help investors
To improve the coun-try’s investment climate, the National Government will create an economic research and business assistance center, which will be placed under the jurisdiction of the Department of Trade and Industry (DTI).
The National Economic Research and Business Assistance Center (Nerbac), an agency tasked to assist prospective entrepreneurs and investors in the country, will be pilot-tested in Cebu and Davao within the year, according to DTI 7 Director Aster Caberte.
The creation of the Nerbac is provided under Republic Act (RA) 7470, otherwise known as the National Economic Research and Business Assistance Center of the Philippines Act of 1992.
RA 7470 provides that “it is the policy of the State to enhance economic growth by providing necessary and strategic economic and business information and research assistance, thereby expediting the process of business formation and encouraging the growth of entrepreneurship in the country.”
Information
The Nerbac will be tasked to provide prospective investors and entrepreneurs basic information on various business options that are open to them, in accordance with investment priorities of the government.
Nerbac’s central office will be in Manila but it will have branches in different regions, which will be integrated into DTI regional offices.
The center will provide a one-stop action center that will facilitate the processing and documentation of all requirements in the establishment of business enterprises in the country. It will also link prospective entrepreneurs to credit services.
Other functions of the Nerbac include: establishing an updated data bank of all industries and business enterprises in the country; preparing pre-feasibility studies; and identifying possible areas for investment.
It is tasked to monitor technological advances relevant to business and the economy, as well as to disseminate information to Filipino entrepreneurs and the public. (JBN)
For Bisaya stories from Cebu. Click here. (August 11, 2006 issue)
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