2 November 2017
PCC Chairman Arsenio M. Balisacan on the ‘Ease of Doing Business’ Report by the World Bank Group:
“The latest drop in rankings of the Philippines in the World Bank Group report on Ease of Doing Business is a sobering account of our performance in attracting new investors and putting up new businesses in the country.
“We in the Philippine Competition Commission (PCC) push for synergies in streamlining procedures, cutting down the processes to encourage businesses, and opening the market to more players to reach a level playing field.
“The competition law is friendly to both big businesses who are well-positioned in the market and the emerging ones. We will work together with the private and public sector to boost competition and allow new businesses to get a fair shot at entering and thriving in the market.”
ABOUT WORLD BANK’S ‘EASE OF DOING BUSINESS’ REPORT
The Philippines fell from 99th last year to 113th among the 190 countries included in this year’s edition of the World Bank Group report. In terms of specific indicators, the Philippines ranked the lowest in terms of starting a business (173rd), followed by enforcing contracts (149th) and protecting minority investors (146th). The Philippines’ distance-to-frontier (DTF) score of 58.74 was below the average of 62.7 for East Asia and Pacific economies. DTF measures how far an economy is to the best performer on each of the indicators, using a scale of 0 to 100, with 100 representing the model economy.
The Philippine Competition Commission is a national government agency duly mandated by the Philippine Competition Act to promote competition in the market, prohibit anti-competitive conduct, and push for a level playing field among businesses.