Doing Business in RP

Manila Bulletin, April 25, 2009 | Go to article overview
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Doing Business in RP


Recently, American business leaders in the Asia Pacific called on the US to bolster trade and investment links with the region. With the industrialized West suffering the blow of the financial crisis, business experts and policymakers are now looking at Asia to become the new powerhouse.The Philippines, however, has to overcome a major obstacle to investment and job creation: in Asia, it falls behind in terms of ease of doing business. A World Bank and International Finance Corp. (IFC) report put the Philippines at 140th out of 181 countries in a study on the ease of doing business. Our country, one of the lowest-ranked in the region, was behind Cambodia at 135 and only ahead of Laos at 165 and East Timor at 170. The average ranking for East Asia is 83.The report, entitled Doing Business 2009, takes into account the laws, rules and regulations that enhance or impede business activities based on 10 indicators: starting a business, dealing with construction permits, employing workers, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, and closing a business.Singapore earned top rank, making it the easiest place in the world to do business.

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