The country’s trade chief is doubtful the Philippines can breach the top 20 percent of the World Bank’s Doing Business survey by 2020, saying this can only be achieved if local government units implement drastic reforms that will complement the ease of doing business (EODB) law.
In a speech at the EODB Summit 2018, Trade Secretary Ramon M. Lopez said he is not optimistic about the Philippines reaching the upper quartile of the World Bank’s annual report on doing business. Last year’s survey put the country down by 14 notches to 113th in a list of 190 economies. This developed as a study commissioned by the Philippine Council for Agriculture and Fisheries (PCAF) cited “unnecessary” regulatory burden that affects EODB in the agriculture and fishery sector. The Development Academy of the
Philippines conducted the study.
“According to the study, businesses have to bear unnecessary regulatory burdens like duplication of requirements in securing licenses and permits that could have an impact in terms of cost, time and complexity arising from overregulation,” the PCAF said in a news statement issued on Wednesday.