PH ease of doing business ranking hailed

TWO House leaders have expressed elation over the latest survey showing the Philippines’ significant improvement in Ease of Doing Business rankings.

Majority Leader Martin Romualdez and Ways and Means committee chairman Joey Salceda both acknowledged the initiative and determination of the Duterte administration in improving the country’s economy.

“Our country’s great leap in the World Bank ease of doing business survey is a big boost to our quest for more foreign and domestic investments. This signifies the business community’s confidence in the structural reforms being implemented by the Duterte administration to propel our economy to greater heights,” Romualdez said.

“The improvement in our worldwide ranking will definitely lead to more investments, which translate to more jobs for our people. Hopefully, these jobs will not benefit only the urban areas, but also the rural communities in far-flung villages,” he added.

Romualdez pointed out that the groundwork to make the economy more competitive was laid with the enactment of the Ease of Doing Business Law and the Anti-Red Tape Act.

The Leyte lawmaker added that in the coming days, the House of Representatives will exercise its oversight function to ensure that these laws are being implemented faithfully.        

For his part, Salceda said credit should be given to President Rodrigo Duterte
for his resolute determination to prepare a national business landscape that will enable growth for generations to come.

Likewise, Salceda said this improvement is through the efforts of Speaker Alan Peter Cayetano and Majority Leader Martin, the House of Representatives has become a House of Reforms.

Reforms are now gaining traction that would thrust the Philippines into a more competitive economy as proven by the 29 notch leap from 124th to 95th or right at the top 50 percent of the 190 countries surveyed.

This is primarily on account of RA 11032 or the EODB law enacted last May 2018 and the full activation of the ARTA or the Anti-Red Tape Authority which has solved 50 percent of complaints filed. 

“The Philippine government is committed to harnessing a dynamic private sector through enabling public institutions,” Salceda said.

By end 2022, Duterte targets to lift the Philippines to the top 20 percent of world economies in the World Bank’s Ease of Doing Business Report.