Zamboanga del Sur sees 64% rise in business registrations

Zamboanga del Sur sees 64% rise in business registrations

By Hirohito Cadion, Philippine News Agency

- in Business, Economy, News, Philippines

PAGADIAN CITY, Zamboanga del Sur — The Department of Trade and Industry (DTI) announced that there was sharp increase in new businesses in 2017 in this province.

DTI Provincial Director Maria Socorro Atay on Friday said the Business Name Registration (BNR) in 2017 reached 2,962, which is 64 percent higher compared to the 1,812 registered in 2016.

“A comparative analysis on the number of BNRs processed and issued by the agency clearly shows the economic improvement of the province, further emphasizing its potential as a regional growth center,” she said.

Atay attributed to at least five factors that contributed to the sharp increase in the BNR in this province last year.

These are the following: greater economic potential seen in the province; heightened entrepreneurial awareness; full implementation of the Barangay Micro Business Enterprise (BMBE) Law, which grants tax exemption to businesses with less than PhP3 million annual income; implementation of Pondo sa Pagbabago at Pag-asenso or P3 program; and, ease in acquiring permits through the implementation of the Business Permits Licensing System (BPLS) coupled with the accessibility of the Negosyo Centers in growth areas outside in this city.

There are 11 Negosyo Centers across this province. Of the total, five were established last year and these are in the towns of Bayog, Tabina, Kumalarang, Josefina and Dumingag.

Meanwhile, Atay said that 4,200 micro, small and medium enterprises (MSMEs) have availed of the agency’s assistance through the conduct 160 entrepreneurship training in 2017.

She said they also spearheaded the implementation of the BMBE as well as link interested MSMEs to partner Financial Institutions (FIs) that handled the P3 project.

She said these form part of the government’s efforts to strengthen MSMEs, which is aimed at improving the national economy and further contributing to the country’s vision of making socio-economic growth and development inclusive. (PNA)

If you enjoy reading our stories,
please help keep Mindanation up and running by donating any amount.
Your support will go a long way in keeping us going.

Facebook Comments

You may also like

Congress Denies ABS-CBN Franchise

After a dozen hearings, the House today has