THE Department of Trade and Industry (DTI) in Davao Region is determined to reduce the time in acquiring business permit and licensing.

Hastening procedures for investors to come in is among the marching orders given to DTI by President Benigno Aquino III in his state of the nation address.

Updates on President Benigno Aquino III's presidency

Trade department Davao City Director Teolulo Pasawa said a survey by the International Financing Corporation showed an average of 21 days for an investor to complete requirements for a business permit and licensing in the city.

"The City Government though has reported of having experienced getting a business permit less than a day but only if all requirements are all ready," Pasawa said.

However, with the new system, an investor of small trades can get a temporary but valid business permit in less than an hour.

"Ang ginagawa is kung qualified siya, bibigyan yung investor ng temporary business permit but will all the legal means for him to start a business. All the requirements para makuha niya yung business permit niya ay pwedeng in one month niya tatapusin, may deadline," Pasawa said.

The DTI, local government units, and other stakeholders gathered recently to launch the provincial satellite offices of the National Economic Research and Business Assistance Center (Nerbac).

Trade department regional Director Marizon Loreto said Nerbac was created as the government's investment promotion arm that creates strategies that would lure in investors and provides comprehensive and highly integrated business support services to prospective investors.

Among the agencies housed in the Nerbac are the Board of Investments, Department of Environment and Natural Resources, Bureau of Customs, Philippine Health Insurance Corporation, Home Development Mutual Fund, Intellectual Property Office, and the Social Security System.

Other partner agencies are the Bureau of Internal Revenue, Department of Labor and Employment, and the Cooperative Development Authority.

Nerbac satellite offices will be established in the cities of Digos, Tagum, and Mati, and Nabunturan in Compostela Valley.

In strengthening the services by Nerbac, officers of DTI are set to undergo training that will tackle how to shorten the process of acquiring business permit and licensing. (Jade C. Zaldivar)