BREAKING NEWS: Pres. Duterte wants to see PHL ranking in ease of doing business improve in 2018!

The latest “Doing Business 2018: Reforming to Create Jobs” of the World Bank released Tuesday night (PH time) showed that the Philippines’ distance to frontier (DTF) slightly improved to 58.74 from 58.32 in the Doing Business 2017 report.

The Philippines landed in 113th place out of 190 economies this year from 99th place last year.

The Philippines now ranks 108th out of 189 economies in the latest Ease of Doing Business report released by the World Bank and the International Finance Corporation.

Acting presidential spokesperson Harry Roque said at his first briefing in Malacañang that President Rodrigo Duterte himself would want to see improvements in the Philippine standing in terms of ease of doing business.

“I am sure the President in November of next year would want to see a substantial improvement regardless of whatever reasons the Department may have to justify ... the standing of the Philippines,” he said.

According to the World Bank last year, it takes 28 days to start a business in the Philippines, compared to 21 days on average at the global level.

We will take this report very seriously and, I think, the President has shown a political will ... to get things done. And I’m sure that this report will be a reason for us to further innovate and make sure that doing business in the Philippines will become easier,” he said.

This was accomplished through simplification of forms and the reduction of required signatories. The process is expected to be shorter once the system becomes automated, he added.

“Overall, we plan to reduce the steps and time in business permits and Bureau of Internal Revenue registration. At present it has 16 steps and we plan to reduce it to six steps. The 28 days we will cut it to eight days,” Lopez said.

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