Doing business in the Philippines now easier—World Bank 2017 report

Faith Ocampo Published on October 27, 2016

pin on philippine map

The Philippines is back in the top 100 economies listed in World Bank’s 2017 Doing Business Report.

Rebounding from its eight-step drop last year, the Philippines climbed four spots in World Bank-International Finance Corporation’s 2017 Doing Business rankings.
The Philippines is now 99th out of 189 economies evaluated. In 2016, it slipped to the 103rd place.

The report covers 10 sub-indicators of ease of launching investments in a country. The Philippines was assessed based on data from Quezon City, gathered from February to May this year.
Gains were seen in four out of 10 indicators, with the biggest improvement in protecting minority investors (up by 18 spots) and dealing with construction permits (up by 14 spots).
Improvements were also seen in paying taxes (up by 11 spots) and enforcing contracts (up by four spots).

blue arrows moving up depicting business success

On the other hand, declines were reported in four areas, including getting credit (down by nine spots), starting a business (down by six spots), getting electricity (down by three spots), and resolving insolvency (down by three spots).
The rankings for 2016 and 2017 as well as the changes in rank are presented in the table below.

DOING BUSINESS IN THE PHILIPPINES

INDICATORS

2017 RANK

2016 RANK

CHANGE IN RANK

Overall 99 103 4
Protecting minority investors 137 155 +18
Dealing with construction permits 85 99 +14
Paying taxes 115 126 +11
Enforcing contracts 136 140 +4
Trading across borders 95 95 0
Registering property 112 112 0
Resolving insolvency 56 53 −3
Getting electricity 22 19 −3
Starting a business 171 165 −6
Getting credit 118 109 −9

 

Private sector co-chairman of the National Competitive Council (Philippines) Guillermo M. Luz said that he expects a “dramatic” increase in the Philippines’ ranking next year. He said legislative changes are seen to improve the business environment, citing amendments to the Corporation Code and tax policies.

What this means for outsourcing companies

High rankings in ease of doing business are beneficial for emerging markets around the world, helping them attract new foreign investments.
In the Philippines, the outsourcing sector is expected to expand even further following these developments. Currently, its BPO industry employs more than 1 million Filipino professionals and is estimated to generate up to $25 billion by year-end. Its improved business environment, as indicated in the World Bank report, could help them encourage more investors to take their services to the country.

Faith is a digital media enthusiast aiming to become an active part of the tech world by sharing her insights. She likes to blog about everything digimarketing, technology, and social media.
Join us on facebook
Open Access BPO 2 days ago
Call centers are melting pots of talent, bringing together individuals from diverse backgrounds and cultures.

While this #diversity fosters #creativity and innovation, it can also lead to misunderstandings and conflicts.

Here's a breakdown of the top 10 culprits behind #CallCenter clashes: https://buff.ly/3ROnIjJ

----------
Connect with an #outsourcing firm that provides great employee training and management programs: https://buff.ly/4cfPAVu

#WeSpeakYourLanguage
#CompanyCulture #EmployeeManagement
Open Access BPO 2 days ago
At Open Access BPO, we believe in fostering a workplace that celebrates #diversity and embraces everyone for who they are. This #PrideMonth, our Davao team kicked off the celebrations with a fantastic party at 199X Coffee + Bar!

The night was filled with love, acceptance, and performances by our LGBTQIA+ teammates and allies, showcasing their talents in a celebration of Pride.

Huge thanks to Open Access BPO Davao for spreading the love and demonstrating our commitment to a workplace where everyone feels valued and empowered to be their authentic selves!

#WeSpeakYourLanguage
#OneWithDiversity #PrideMonth
#Pride2024 #CelebratePride
#UnitedByLove
Open Access BPO 3 days ago
Diversity fuels success, and #InclusiveHiring is the first step!
Discover practical strategies, success stories, and the power of embracing #diversity for better innovation and growth: https://buff.ly/3VEzO17

----------
Our recruitment and training practices are meticulously designed to ensure exceptional #CX: https://buff.ly/3VC9Xqx

#WeSpeakYourLanguage
#DiversityandInclusion
#inclusivity #Diversity
Open Access BPO 4 days ago
𝗔 𝗟𝗲𝗴𝗮𝗰𝘆 𝗶𝗻 𝗠𝗮𝗿𝗯𝗹𝗲: 𝗢𝗽𝗲𝗻 𝗔𝗰𝗰𝗲𝘀𝘀 𝗕𝗣𝗢 𝗛𝗼𝗻𝗼𝗿𝘀 𝗔𝗽𝗼 𝗪𝗵𝗮𝗻𝗴-𝗢𝗱 | https://buff.ly/3VA9DbQ

Nestled in the remote mountains of Buscalan lives Apo Whang-Od, the revered Kalinga tattoo artist whose artistry has transcended generations. Recently, Open Access BPO embarked on a special mission to honor this cultural treasure.

More than just ink on skin, Apo Whang-Od's tattoos represent a living tradition, a connection to the past, and a vibrant expression of Filipino heritage. To celebrate her enduring impact, Open Access BPO unveiled a stunning marble bust—a permanent testament to her legacy.

----------
Our leadership team's visit to Buscalan to honor a cultural icon embodies Open Access BPO's commitment to giving back.

Interested in learning more about our values?
Contact us today at https://buff.ly/3RmBJVA

#WeSpeakYourLanguage
Open Access BPO 4 days ago
Ensuring memorable #CustomerExperience by providing high quality #CustomerSupport means two things:
• brands need to gain a 360-degree view of their customers; and
• brands need to satisfy a large part, if not all, of their customers' needs.

One of the best ways to do both is to implement a multichannel customer experience management strategy: https://buff.ly/3XjU7lM

----------
Give your customers an unforgettable customer experience with multichannel #CustomerService: https://buff.ly/3XdUrCo

#WeSpeakYourLanguage
#outsourcing #CX
#CustomerSatisfaction #CSat
Open Access BPO 4 days ago
𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁𝗶𝗻𝗴 𝗮𝗰𝗰𝘂𝗿𝗮𝗰𝘆 is a valuable metric to determine the challenges your #CustomerSupport team will face.
It allows you to manage your team and distribute the workload accordingly, paving the way for an efficient operational output.

Read: https://buff.ly/45fTyeF

----------
For ops management strategies that ensure high #productivity for optimal 24/7 coverage: https://buff.ly/45mgzML

#WeSpeakYourLanguage
#CustomerExperience #CustomerService
Open Access BPO