IN the recently concluded Ease of Doing Business (EODB) Summit last May 6 organized by the Anti-Red Tape Authority (ARTA) with the theme, “Forging Forward, Overcoming Adversity: Ease of Doing Business in the Time of Pandemic,” the Securities and Exchange Commission (SEC) received three top awards based on the World Bank’s Doing Business (DB) 2020 Report: Doing Business Competitiveness Ranking Mover for the most number of accepted reforms; Protecting Minority Investors (PMI) as the Philippines’ most improved indicator based on the DB 2020 overall rank, improving 60 notches from 132 to 72 out of 190 economies; and PMI as the first big impact indicator in the DB 2020 report, thereby raising the Philippines’ bar of competitiveness to a higher level.

During the summit, Commissioner Javey Paul Francisco presented the SEC’s achievements in making the process of company registration easier. The SEC has launched the Electronic Simplified Processing of Application for Registration of Company (eSPARC) facility, which combines the corporate registration functions of the Company Registration System based on the Corporation Code and the Interim Registration System based on the Revised Corporation Code of the Philippines (RCC). The eSPARC facility is integrated with the Central Business Portal of the Department of Information and Communications Technology. Payment of registration fees may now be done via the SEC Payment Portal.

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