The Philippines is expected to perform better in the upcoming World Bank’s Ease of Doing Business (EODB) 2021 survey, with the Anti-Red Tape Authority (ARTA) citing its reforms to streamline government processes.
“I see a much improved score for the [EODB] Survey this 2021 as our reforms aimed at streamlining and speeding up government processes are finally coming to fruition,” ARTA Director General Jeremiah Belgica said in a news statement issued on Monday.
The Philippines scored 62.8 last year, which positioned the country at the 95th spot. This is an improvement from when the country scored 57.68 in 2019 and sat at 124th rank out of 190 countries.
In the Southeast Asian region, the Philippines is at seventh rank, lagging behind Singapore, Malaysia, Thailand, Brunei, Vietnam and Indonesia. But it is ahead of Cambodia, Lao PDR and Myanmar. Belgica is “highly confident” that reforms in four particular indicators will bode well for the country. These include Trading Across Borders, Protecting Minority Investors, Enforcing Contracts, and Dealing with Construction Permits.
Among the developments in these areas include the automation of issuances for business and construction permits and digitization of land titles in Quezon City.
ARTA also noted “the reduction of cost and number of days for the filing and service and trial and judgment phase on breach of contractual obligations of the procedure for small claims cases before the Quezon City Metropolitan Trial Courts.”
However, Belgica expressed worries that ARTA’s efforts in certain areas—Starting a Business, Dealing with Construction Permits, Registering Property, and Enforcing Contracts—will not be fully recognized. He noted that some parts of the EODB methodology should be reviewed and improved.
The agency said that it has elevated its concerns to the World Bank since last year. ARTA also appealed anew to the organization in the hope of amending its methodology.
“By doing so, I see a study that is more reflective of the Doing Business situation not only in our country but also in other economies,” Belgica added.
EODB is among the factors an investor is looking at when deciding on a venture in a specific country. Ranking highly in the survey signals that the country’s regulatory environment is business-friendly.
The Board of Investments and the Philippine Economic Zone Authority approved investments amounted to a total of P1.11 trillion last year, which is 11.7 percent lower than P1.26 trillion both agencies booked in 2019.