Bad Philippine ranking in Doing Business

The 2011 Report of the annual “Doing Business” produced by the WB-IFC was out last week. Another bad news for the Philippines, it ranked 148th out of 183 countries covered by the study.

The Doing Business annual reports rank countries based on how easy they allow businesses to flourish. There are 9 factors being considered to produce the “ease of doing business” index and then the ranking. These are the number of procedures, how much, etc. in: (a) starting a business, (b) dealing with construction permits, (c) registering property, (d) getting credit, (e) protecting investors, (f) paying taxes, (g) trading across borders, (h) enforcing contracts, and (i) closing a business.

Here’s the result of the global ranking for the 2011 Report:

Top 5, in order: Singapore, Hong Kong, New Zealand, UK, US.

Rank 6-10: Denmark, Canada, Norway, Ireland, Australia.

Rank 11-15: Saudi Arabia, Georgia, Finland, Sweden, Iceland.

Rank 16-20: S. Korea, Estonia, Japan, Thailand, Mauritius.

Other Asians: Malaysia 21st, Taiwan 33rd, Vietnam 78th, China 79th.

Pakistan 83rd, Brunei 112th, Indonesia 121st, India 134th, Cambodia 147th, Philippines 148th.

source: http://doingbusiness.org/rankings

The Philippine government, both national and local government units, should start streamlining business procedures to ease doing business in the country.

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