Philippines improves ranking in WB’s Doing Business report

THE Philippines has advanced in an annual ease of doing business list by the World Bank.

According to the just-released joint World Bank and International Finance Corp. Doing Business 2014 report, the Philippines jumped 30 places to 108 out of 189 economies from last year’s 138.

The report said the Philippines is one of the ten most-improved economies in terms of business regulation this year, making big strides particularly in dealing with construction permits, getting credit, and paying taxes.

The Doing Business report looks at regulations applying to small- and medium-sized enterprises in ten areas: 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. — Daryll Edisonn D. Saclag, Businessworld