MANILA – (UPDATE2- 5:17 p.m.) For the second year, the Philippines barely improved in its performance as a business-friendly location, according to an annual World Bank survey. It actually slipped two notches in the 2013 Ease of Doing Business report, but because two countries were added to the list, the Philippines remained as is.
In its 2013 Ease of Doing Business report, the World Bank said the Philippines’ ranking slid to 138 from last year’s 136. This was the country’s second consecutive drop after landing on the 134th place in the 2011 report. The 2013 report ranked 185 locations.
The country’s slide comes even as the economy has registered decent growth, with the Philippines’ gross domestic product expanding 6.1 percent, making it among the fastest in Asia.
The Ease of Doing Business ranks locations in terms of how easy it is for businesses to start up, operate, expand and close shop.
Among its indicators are starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. –Likha Cuevas-Miel, InterAksyon.com
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