The Anti-Red Tape Authority wants the Philippines to be in the top 20 percent of countries covered by the World Bank’s Business-Ready or B-Ready report that assesses economies’ business and investment climate.
ARTA Director General Ernesto Perez said the country is not expected to be part of next year’s edition of the B-Ready report, but will be included in 2026. “In 2026, that’s our aim. And we’re pretty confident because of all those reforms, initiatives are already laid down,” he added.
The B-Ready report tracks economies’ performance in terms of three pillars: regulatory framework, public services, and operational efficiency.
The B-Ready report released earlier this month put the Philippines in the top 40 percent out of 50 economies in terms of regulatory framework, ranking 16th. In the public services pillar, it placed 24th, and 36th in operational efficiency.
In assessing the business and investment climate, B-Ready looks at 10 topic areas: business entry, business location, utility services, labor, financial services, international trade, taxation, dispute resolution, market competition, and business insolvency.
Gonzalo Varela, World Bank lead economist for the Philippines, said that of the 10 topic areas, the country will need to focus on reforms in business entry as barriers to entry hinder competition, and ultimately, job creation. Other areas that need to be addressed are business location, market competition, and business insolvency.
Perez said ARTA would be focusing on how to improve the process of starting and closing a business. He added that 112 local government units are now compliant with the electronic business one-stop shop required under the Ease of Doing Business and Efficient Government Service Delivery Act that seeks to fully automate the process.
It is good to have a goal, especially one that will undoubtedly improve the business climate of a country, which increases investments and creates jobs. If the Anti-Red Tape Authority is successful in putting the Philippines in the top 20 percent of the World Bank’s B-Ready report, a lot of Filipinos would ultimately benefit. Let us wish them the best of luck in this endeavor.*
