The Philippines has climbed four notches to rank 99th out of the 190 economies assessed by the World Bank-International Finance Corp. (WB-IFC) in the latest edition of its 2017 Doing Business Report.
The country scored significant gains in four of 10 indicators used by the WB-IFC, the National Competitive Council said in a statement on Tuesday.
These indicators included Protecting Minority Investors where the country’s ranking rose 18 notches to 137th place from last year’s 155th; Dealing with Construction Permits, up 14 places to 85th; Paying Taxes, up 11 notches to 115th; and Enforcing Contracts, up four places to rank 136th.
“Among the reforms introduced this year in the Philippines were the extent of corporate transparency index, increasing the transparency of building regulations, and the introduction of an online system for filing and paying health contributions,” the NCC said.
Slight declines, however, were registered in several indicators namely Getting Credit, where the country reported a nine-place decline to 118th.