The Department of Information and Communications Technology (DICT) has committed to eliminate bureaucratic red-tape and streamline business registration processes in the Philippines through the Central Business Portal (CBP) by 2020.
The CBP is an online platform aimed at providing faster and more convenient way of applying for business registrations, as well as securing and submitting business requirements. It is also designed to provide links to online registration services of various National Government Agencies (NGAs).
The CBP is expected to reduce, if not totally eradicate, long queues for physical transactions as the applications are done online and will be completed in five days.
“We want to promote transparency and uphold the ease of doing business. With the CBP, we are ensuring the processing period of business registration-related transactions are shortened,” said DICT Secretary Gregorio Honasan II.
Jeremiah Belgica, Director General of the Anti-Red Tape Authority is positive the CBP will suppress corruption in the government.
The CBP, which will be fully operational by February 14 next year, covers business transactions under the Securities and Exchange Commission (SEC), but is envisioned to also cover DTI, social agencies, and even transactions under the Bureau of Internal Revenue (BIR).
Republic Act 11302 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 mandates the DICT as the lead agency responsible in establishing, operating and maintaining the CBP.