Duterte Credited for Big Jump in Global Ease of Doing Business (EODB) Ranking πŸ‘ŠπŸΎπŸ‡΅πŸ‡­ - The Most Popular Lists


Duterte Credited for Big Jump in Global Ease of Doing Business (EODB) Ranking πŸ‘ŠπŸΎπŸ‡΅πŸ‡­

The Philippines dramatically moves up 29 notches to 95th from 124th out of 190 countries in the global ease of doing business (EODB) ranking, making it to the top three high-jumpers globally and the most improved in the Association of Southeast Asian Nations (ASEAN) both in rank and score.

Presidential Communications Secretary Martin Andanar hailed the country’s improved rating as a “strong vote of confidence” towards President Duterte’s campaign to eliminate red tape and corruption.

Andanar said the administration expects “better results” as it sustain reforms to promote a business-friendly environment in the country.

“We welcome the remarkable improvement in the Philippines’ ranking in World Bank’s Doing Business 2020 report where it jumped 29 spots to rank 95th out of 190 economies, getting the third best improvement among the countries covered, and the highest increase among ASEAN-member state,” he said.

(World Bank / Reuters / MANILA BULLETIN)

“We expect even better results in the coming years as the government remains committed to give the Filipino people an easier and more comfortable life, thanks to the President’s strong political will to undertake these landmark reforms,” he added.

Credit goes to Duterte

House Majority Leader Martin Romualdez (Lakas-CMD, Leyte) and Rep. Joey Sarte Salceda (PDP-Laban, Albay) credited President Duterte for the improved rating.

“Our country’s great leap in the World Bank ease of doing business survey is a big boost to our quest for more foreign and domestic investments.

This signifies the business community’s confidence on the structural reforms being implemented by the Duterte administration to propel our economy to greater heights,” said Romualdez.

Romualdez said Congress was able to lay the “groundwork to make our economy more competitive,” citing the enactment of the Ease of Doing Business Law and the Anti-Red Tape Act.

“We, in Congress, also remain committed to the approval of other pending measures required to improve our credit ratings. With these reforms, we trust that our march to progress will be steady and swift,” said Romualdez.

Salceda said reforms introduced under the Duterte administration “are now gaining traction.”

He agreed with Romualdez in pointing out that the EODB Law and the Anti-Red Tape Act bolstered the Philippiones bid to become among the preferred business investment havens in the world.

“The Philippine government is committed to harnessing a dynamic private sector through enabling public institutions,” noted Salceda, also vice chairman of the House Committee on Appropriations.

According to Salceda the Duterte government has set its sights at putting the Philippines to the 20 percent of world economies in the World Bank’s Ease of Doing Business Report.

“But the biggest source of rigidity remains constitutional restrictions which compels many businesses desiringto do business in the Philippines to go through complex structurings to gain access to a fast growing and robust domestic market with one of most demographically dynamic population base,” said Salceda.

“We give the President due credit for his resolute determination to prepare a national business landscape that will enable growth for generations to come,” he added.

According to Salceda the House of Representatives will continue to make its legislative contributions to the achievement of the goal of putting Philippines in the map of top economies in the world.

“In the coming months, the House of Reforms will push forward with greater vigour and speed scope scale of reforms,” said the senior administration solon. (With reports from Genalyn D. Kabiling and Ben R. Rosario)

Found this article interesting? Share it with your friends! πŸ‘πŸΌ

This article first appeared on Manila Bulletin.

No comments:

Post a Comment

Enjoyed this article?

We appreciate any amount of donation to keep the inspiring stories coming from our team! πŸ™