THE Philippines welcomed the World Bank report recognizing the efforts of the Philippine Government in undertaking several important reform measures to improve the ease of doing business in the Philippines.
Philippine Ambassador to Washington DC Jose Manuel G. Romualdez in a statement said “we welcome the release of the World Bank Doing Business 2020 Report that recognizes the efforts of the Philippine Government in undertaking severareform measures to improve the ease of doing business in the Philippines.”
The report shows a significant improvement in the Philippines’ ranking from rank 124 (2019) to rank 95 (2020).
Manila’s overall ease of doing business score improved from 57.68 (2019) to 62.8 (2020).
Highlighted in the report were the reforms recently undertaken by the Philippines in starting a business; dealing with construction permits; and protecting minority investors.
The Department of Finance (DOF) and the Department of Trade and Industry (DTI) have been leading a wholistic, inter-agency effort to improve the ease of doing business in the Philippines. They have also worked closely with the Legislative and Judicial branches of government.