THE Philippines’ ranking in World Bank’s ease of doing business jumped to 95th out of 190 economies, up by 29 notches from last year’s 124th spot.
Released on Thursday, the 2020 Doing Business report said the country’s ease of doing business score was 62.8 (with zero as the lowest and 100 being the highest).
The 10 areas measured in the report were starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.
One additional area, employing workers, was also measured but not included in the rankings.
“With three reforms in the past year, the Philippines continued its reform momentum,” World Bank said.
“Among other changes, the Philippines eliminated the minimum capital requirement for domestic firms. The country also streamlined the process for obtaining an occupancy certificate,” added World Bank.