We welcome the release of the World Bank Doing Business 2020 Report that recognizes the efforts of the Philippine Government in undertaking several important reform 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). Our overall ease of doing business score improved from 57.68 (2019) to 62.8 (2020).
The report also highlights 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.
We believe that the Doing Business 2020 report is a validation of the Philippine government’s commitment to introduce reforms and streamline business processes. At the same time, we reiterate the position that the data underlying publications such as the Doing Business report should be accurate and comprehensive. The Philippine Government, through the DOF and the DTI, continues to engage with the World Bank and other reporting institutions to ensure a fair and realistic assessment of our reforms. ###