October 30, 2013

Doing Business in the Philippines

The Philippines was named as one of the most improved countries in doing business by International Finance Corporation (IFC), the private sector arm of World Bank. According to 2014 Doing Business survey by IFC, Philippines rank increased from 138th in 2013 to 108th in 2014; an increased by 30 notch. This means that doing business in the country is somehow easing.

The improvement in the rank of the Philippines, in terms of ease of doing business, will significantly have a positive impact in foreign investment, especially in long term fixed investment (manufacturing sector). Moreover, if the improvements in doing business will continue in the succeeding years, especially on the energy cost and infrastructure support, doing business in the country will be more encouraging. Simplification of government documentation which aims to lessen "red tape" must also be on the top priorities.

It is in the hands of the government to provide an environment that is conducive to investors, thus, more will be expected on the government relative to this area of responsibility.

The Philippines is on the right track; moving slowly but surely.

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