Now on its 12th year, the World Bank has released its 2014 edition of the Ease of Doing Business Report. The report, titled “Philippines Jumps in Ease of Business”, ranks 189 countries based on how efficiently various aspects of business operations are conducted. This includes factors such as the number of steps required to register a business, the ease of paying taxes, access to credit, and overall regulatory improvements. The significant progress of the Philippines in this ranking highlights its commitment to fostering a more business-friendly environment.
Earlier in the year, the National Competitiveness Council, the main representatives from the government dealing with this particular ranking, promised to improve the country’s standing in the Ease of Doing Business report by at least 29 places.
With the release of the 2014 edition’s results, it is evident that Philippines jumps in ease of business, showcasing a remarkable improvement in global rankings. The country climbed an impressive 30 spots, securing the 108th position among the 189 countries evaluated. This is a significant leap from last year’s 138th ranking, which was already two spots higher than the previous year. This 30-spot jump marks the most substantial improvement achieved by any country, placing the Philippines among the top 10 nations that showed the most progress.
The Philippines jumps in ease of business rankings, improving in 7 out of 10 categories due to significant government-led reforms aimed at streamlining processes and fostering a more business-friendly environment.
The National Competitiveness Council has stated that the next goal is to be included in the top 60 by 2016.
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