The Central Business Portal 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.
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. 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.
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