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 21 hours ago
Knowing what influences customer expectations is the first step to improving your relationship with your customers.

Here are 7 things that can guide you: https://buff.ly/3tfzni4

----------
Cultivate your customer relationships with our smart business solutions: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#CustomerExperience #CX
#CSat #CustomerSupport
Open Access BPO Yesterday
The right choice of words (and tone) can calm down and bring conversations to a better outcome...even if it's with an update customer.

Here are 5 statements #CustomerSupport agents need to tell irate callers: https://buff.ly/3PtRYOG

----------
For #outsourcing services that build and maintain strong customer relationships: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#CustomerExperience #CX
Open Access BPO Yesterday
#SocialMedia has become the hub where consumers freely share their opinions, chat about brands, and express their thoughts on products.

That's why you need to provide memorable #CustomerSupport on these platforms at the speed of now:

Discover the 5 essential components of a strong social media #CX strategy here: https://buff.ly/3PC7dFg

----------
Give your brand a CX boost on the social web!

Upgrade your #CustomerService today:
OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#CustomerService #CSat
#CustomerSatisfaction
#RepManagemenet
Open Access BPO 2 days ago
It's crucial to meet your customers' expectations, but sometimes unforeseen circumstances can get in the way.

Here's a quick guide on how to handle those challenging moments and come out stronger with our #CustomerSupport strategy: https://buff.ly/46t8p4u

----------
Let's turn mishaps into opportunities: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#CustomerExperience #CX #CSat
Open Access BPO 2 days ago
Preventing your customers from leaving your brand may not be as easy as it sounds, but here are 5 tips your outsourced #CallCenter's customer retention team must consider: https://buff.ly/3rrfwM6

----------
Ensure brand loyalty with Open Access BPO's high-quality #CustomerSupport.
Contact us today: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#CustomerRetention
Open Access BPO 3 days ago
You're correct if you believe that making customers happy has become more challenging in recent decades.

Here are five reasons why it's become a tougher task: https://buff.ly/48qkQQt

----------
Start improving your customer retention and brand loyalty: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#CustomerSupport #CustomerService
#CX #CustomerExperience
Open Access BPO