MANILA - The Anti-Red Tape Authority along with other national and local government agencies on Thursday formally launched an online one-stop shop for registering businesses in the Philippines.
The Central Business Portal (CBP) is seen to reduce the number of days in opening a business in the country to just half a day from the current 33 while bringing down the number of steps to one from 13.
With this, ARTA said it hopes to boost the Philippines ranking in the World Bank's Ease of Doing Business 'Starting a Business' sub-indicator.
Currently, the Philippines ranks 171st out of 190 countries in that indicator with an overall ranking of 95th or in the bottom half of the list.
CBP can be accessed online at business.gov.ph and offers a single site for all business-related information and transactions such as securing business permits, licenses, and clearances.
The portal provides a Unified Application Form for all agencies involved in the business registration process, like the Securities and Exchange Commission, Bureau of Internal Revenue, Social Security System, Philippine Health Insurance Corporation, and the Home Development Mutual Fund or Pag-IBIG Fund.
The CBP is also linked to the online business permitting systems of several local governments, namely, Quezon City, Paranaque City, Ilagan City, Baler, Dipaculao, Limay, Macabebe, Paete, Santa Cruz in Marinduque, Labo, Santa Barbara in Iloilo, Mandaue City, Dumingag, Catarman, and Kabacan.
ARTA said it is also looking to integrate the online business permitting systems of other local government units into the portal in the future, while incorporating other features.