MANILA, PHILIPPINES – President Benigno “Noy” Aquino III express his elation over recent reports that the Philippines is among the top 10 most improved economies in business regulation over the past year.
According to the latest edition of the World Bank’s “Doing Business” Survey, the country had improved its ranking by 30 places following a series of reform measures implemented by the recent government.
Presidential Communications Operations Office Secretary Herminio B. Coloma Jr. in a press statement in Malacanang said, “Mainam na malaki ang pagtaas ng rating sa World Bank Doing Business Index. Ang susunod na target ay isa pang mataas na pagtalon tungo sa double digit rating (sa loob ng top 80). Kailangang pahusayin pa sa aspeto ng pagpapadali ng pagtatayo ng bagong negosyo.”
In its “Doing Business 2014: Understanding Regulations for Small and Medium-Size Enterprises,” the World Bank said the Philippines was among nations that has implemented at least three reforms in doing business the multilateral lender monitors.
The report also reported that the country now made it easier for businessmen to deal with construction permits, get credit and pay taxes.
According to the latest report, the Philippines now ranks 108th out of 189 nations, up 30 notches from the 138th spot in landed on last year.
So far, this is the biggest improvement for the Philippines in the annual survey’s 12-year history. The country ranked 6th highest in the ASEAN, and brought the Philippines ahead of Indonesia, which was at 120th.
The other nations who made it to the top 10 most improved economies are Ukraine, Rwanda, Russia, Kosovo, Djibouti, Ivory Coast, Burundi, Macedonia and Guatemala.
The report also noted that the pace of business regulatory reform continues to accelerate worldwide following the 2008 financial crisis. With reports from PIA IV-A
