MANILA, Philippines — The Philippine Competition Commission (PCC) called the country’s latest ranking in the World Bank's Ease of Doing Business report a "sobering account" of the Philippines' performance.
“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,” PCC chairman Arsenio Balisacan said in a statement on Thursday, November 2.
The Philippines fell to 113th place this year from 99th place in this year’s edition of the World Bank Group’s ease of Doing Business report that covered 190 countries.
The PCC noted in particular that the country performed poorly in the indicators of starting a business (173rd), followed by enforcing contracts (149th) and protecting minority investors (146th).
“We in 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,” Balisacan said.
Balisacan also pointed out that the Philippine Competition Act passed last year, which his agency is tasked to enforce, could vastly improve the business climate in the country. (READ: Is the Philippine Competition Act really a game-changer?)
“The competition law is friendly to both big businesses who are well-positioned in the market and the emerging ones,” he said.
“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,” Balisacan added.
The PCC is currently fighting a legal battle with Globe Telecom and PLDT Incorporated over their 50-50 split of San Miguel Corporations telco assets which effectively ended the hope for a 3rd player in the country’s telco sector for the time being.
It also recently offered its aid to and promised to examine the proposed move of state-run National Transmission Corporation into the telco sector via a joint-venture. – Rappler.com