DTI launches NERBAC Ozamiz

LOOKING to standardized the business processing time in the province of Misamis Occidental, the Department of Trade and Industry (DTI) on March 4 lauched National Economic Research and Business Assistance Center (NERBAC)-Ozamiz.
DTI provincial director Delia Ayano, said Ozamiz City came second to Iligan City to put up NERBAC office in Region 10.

By establishing a Nerbac office in Ozamiz, the delivery of business intervention to the potential investor will be faster owing to the more efficient process of business registration and licensing, she said.

DTI assitant regional director Linda Boniao said NERBAC-Ozamiz City will serve as one-stop action that facilities documentation of all requirments in the establishment of business enterprise in the city.

She added that it also indentifies possible areas for investment; investment procedures and incentives, links perspective enterprenuers to credit services and estbalishes and updated data bank of all industries and business enterprises in the city.

In her message, Ozamiz City mayor Nova Princess Parojinog-Echavez said the establishment of NERBAC Ozamiz is sending a good signal to the business sector that the city is an ‘investor friendly’ area.

Saying she will support the program, Echavez underscores that a lot of investors have showing interest in putting business in the city.

The Nerbac was created through Republic Act 7470 to provide integrated business support services to prospective investors.

The NERBAC is created to support the policy of the government 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.

The Center shall be manned by representatives of government agencies with regulatory functions so that the businessmen need not waste time going around in various offices that they need to transact with.
Under the regulatory aspect, the center shall organize a one-stop shop of services or assistance center that shall expedite the processing of all government requirements necessary in establishing a business. Member agencies with regulatory function like the Social Security System, PhilHealth, Bureau of Internal Revenue and the like will all be in the Center to help the entrepreneurs.

On the investment aspect, the member-agencies shall provide information to prospective investors, both local and foreign, on the different kinds of business opportunities that are in accord with set investment priorities of the government; to establish an updated data bank of all industries and business enterprise; and to prepare pre-feasibility studies of existing as well as possible industries in the area that can help entrepreneurs decide on what business to venture into.

The Center shall also conduct monitoring of technological advances relevant to business and economy for dissemination to the general public. It likewise formulates and coordinates the conduct of relevant research projects as well as monitor and collate economic, technical and industry research output of all agencies that have reference to business enterprises and to investors in the area with focus on the utilization and how to harness the indigenous resources and technology that are required for our development initiatives.