Phl targets huge gain in doing business

By Richmond Mercurio | April 22, 2016

The Philippines is targeting to leap to 63rd place in this year’s World Bank Ease of Doing Business Report, a 50-notch jump from last year’s ranking of 103.

National Competitiveness Council (NCC) co-chairman for the private sector Bill Luz said yesterday the target is achievable following measures implemented by government agencies in streamlining process for starting a business and paying taxes, as well as social payments.

“We’re very confident that we can move up. We feel we will be on an upward trend. Whether we will hit 63rd or better (we don’t know yet), but we will be moving in that direction. I’m confident that with our hard work we will see some good results,” Luz said.

Luz said the upcoming change in administration would have no negative effect on the country’s stride for providing a better business environment.

“We’re looking at regulations and processes that are being written up so these are not political. I don’t hear any of the candidates opposing for the streamlining of processes. In fact, they are quite impatient and they want us to go faster. So I have yet to come across a businessman, investor, or citizen who says let’s slow down the service. Everyone wants it faster,” Luz said.

The new Ease of Doing Business Report is set to come out in October.

The report measures and tracks changes in regulations affecting 11 areas in the life cycle of a business namely, starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulation.

Last year, the country’s ranking dropped six notches to 103rd from the previous year’s 97th spot across 189 economies.

The NCC was displeased with last year’s ease of doing business outcome, saying the report has undergone methodological  changes in four of the last five years which made it confusing and unreliable for measuring change.

For this year, Luz said the country has already been informed about the upcoming changes which allow the NCC to make adjustments to comply.

The NCC reported yesterday that the country’s ease of doing business task force has continued to streamline the process for starting a business and paying taxes and social payments.

The ease of doing business task force is composed of the NCC, Department of Finance, Department of Trade and Industry, Department of Interior and Local Government, Bureau of Internal Revenue, Securities and Exchange Commission, Social Security System, PhilHealth,  PagIBIG Fund, Landbank, Development Bank of the Philippines, and the Quezon City government.

Source: http://pixeleye.ph/philstar/phl-targets-huge-gain-in-doing-business/