Ease of doing business in the Philippines improved over the past year, with the Southeast Asian country climbing 29 notches in World Bank’s “Doing Business 2020” report released on October 24.
Out of 190 economies, the Philippines advanced to the 95th spot from 124th place in 2019. The country’s score improved to 62.8 from 60.9 previously. (Source: )
Singapore (VNA) - Ease of doingbusiness in the Philippines improved over the past year, with the SoutheastAsian country climbing 29 notches in World Bank’s “Doing Business 2020” reportreleased on October 24.
Out of 190 economies, the Philippines advanced to the 95th spot from 124thplace in 2019. The country’s score improved to 62.8 from 60.9 previously.
Compared to its peers in the East Asia Pacific, the Philippines ranked afterSingapore, Hong Kong (China), Malaysia, Taiwan (China), Thailand, China,Brunei, Vietnam, Indonesia and Mongolia.
The Washington-based multilateral lender’s annual report looks into theregulations that enhance business activity and those that constrain it.
According to World Bank, starting a business in the Philippines became easierfollowing the abolition of the minimum capital requirement for domesticcompanies.
The country also made dealing with construction permits easier by improvingcoordination and streamlining the process for obtaining an occupancycertificate.
The Philippines strengthened minority investor protections by requiring greaterdisclosure of transactions with interested parties and enhancing directorliability for transactions with interested parties, the bank added.
Worldwide, 115 economies made it easier to do business, World Bank said, withNew Zealand remaining the most business-friendly country in the world. Somaliawas the worst with a score of 20.
The Doing Business 2020 study shows that developing economies are catching upwith developed economies in ease of doing business, WB President David Malpasssaid./.
After setting record-high imports this year, the Philippines plans to buy less rice from foreign markets next year amid excessive supply coupled with improvement in local production.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Out of 190 economies, the Philippines advanced to the 95th spot from 124th place in 2019. The country’s score improved to 62.8 from 60.9 previously. (Source: ) 
