November 27, 2020

Philippines reports increase in online business registrations

(MENAFN)

The Philippines’ Department of Trade and Industry (DTI) said on Tuesday that the online business registration in the Philippines saw significant increases as more companies started to do business on the internet over lockdowns due to the coronavirus outbreak.

According to the DTI, the registration of online businesses increased to total 75,876 by the 2nd of September from 1,753 seen in January to the 15th of March before the government imposed a quarantine on Metro Manila and a large part of the economy.
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According to the most recent data released by its Business Name Registration Division (BNRD), the DTI said that the total number of business names that are registered in the DTI by the 2nd of September stood at 712,657, or 12 percent more than the 637,690 business names registered in 2019.

According to Trade Secretary Ramon Lopez, the DTI’s “end-to-end registration system is the reason for the increase,” talking about the expansion adoption by citizens of digital transactions.

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