PHL slips 14 places to 113th in WB Ease of Doing Business Report

Published November 02, 2017 05:58 PM

The Philippines landed in 113th place out of 190 economies in terms of ease of doing business, according to World Bank's Doing Business Report 2018.

The country's latest ranking is 14 places down from 99th place a year earlier.

The World Bank measured an economy's regulations affecting the ease of doing business, using 11 indicators such as starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency, and labor market regulation.

The World Bank cited the reforms made in the aspects of paying taxes and getting electricity.

Yet, the reforms introduced by the government have not have not yet manifested the desired effect as the Philippines dropped 14 notches in its ranking, Trade Secretary Ramon Lopez said earlier.

Other economies also made larger improvements relative to the Philippines, Lopez noted.

While the country's ranking dropped, the Philippine score improved slightly to 58.74 from 58.32.

This score, however, was below the average 62.7 in the East Asia and Pacific region. — Ted Cordero/VDS, GMA News

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