DTI, as the Chair of the Ease of Doing Business (EODB) Task Force, along with EODB member government agencies, presented the reforms undertaken to simplify doing business in the country. as highlight of the 4th Annual Ease of Doing Business Summit held in June 7, 2016 at the Philippine International Convention Center (PICC).
In 2010, the country’s ranking in the WB-IFC’s Doing Business Report was 148th place. Since then, we have improved by 45 notches. Right now, the Philippines is ranked 103rd among 189 economies.
Compared to 15 steps in 52 days in 2011, starting a business in the county today can be completed in six (6) steps and eight (8) days.
The Doing Business Report measures the ease of doing business across ten processes which a business must undertake with several government agencies over its typical life cycle:
- Starting a Business,
- Dealing with Construction Permits,
- Getting Electricity,
- Registering Property,
- Getting Credit,
- Protecting Investors,
- Paying Taxes,
- Trading across Borders,
- Enforcing Contracts, and
- Resolving Insolvency.