This city became the first local government unit (LGU) in the Visayas to partner with the Department of Trade and Industry (DTI) to streamline and expedite business registration processing.

Vice Mayor El Cid Familiaran, who represented Mayor Alfredo Abelardo Benitez during the signing of the memorandum of agreement (MOA), said the partnership will allow faster registration of business names of establishments that will operate in the city.

“We are the first in the Visayas to avail of the program. (This) is in line with the mayor’s dream to transform our city from progressive city to super city,” Familiaran said in a statement on Monday.

Bacolod was among the eight LGUs that entered into a MOA with the DTI, led by Secretary Alfredo Pascual, during the ceremonial signing held at the Bureau of Investments in Makati City on Nov. 10.

Under the MOA, this city and the DTI will establish a partnership to implement an automatic verification system for business name registration of sole proprietors.

It will allow a comprehensive system integration between the DTI’s Business Name Registration System (BNRS) and the LGU’s online Business Permit and Licensing System (BPLS), a two-way sharing of personal and business information between BNRS and online BPLS, and automated validation of business name registrations.

The system will ensure that businesses register with the DTI before acquiring a business permit from the LGU and streamline regulatory processes by validating business name registrations with the DTI, eliminating the need for presenting the certificate of business name registration.

Also, the partnership seeks to strengthen the reliability of information, provide access to real-time and accurate data, and reduce the risk of accepting falsified documents. (PNA)