The Philippines dropped further behind other emerging markets in the region when it fell two notches in the global ranking on ease of doing business in the country, based on the International Financial Corp.’s latest survey.
In the IFC’s 2012 Doing Business Survey, the Philippines ranked 136th among 183 economies.
According to IFC, a unit of the World Bank, procedures and regulations in establishing and operating a business in the Philippines have not changed significantly over the one-year period. The country’s ranking also fell because other economies improved their business environments to make it easier for companies to set up shop in their countries.
Singapore ranked first as far as ease of doing business was concerned. Hong Kong, New Zealand, the United States and Denmark rounded up the top five in that order.
The Philippines’ ranking was way below than that of Thailand (17th), Malaysia (18th), Taiwan (25th) and Vietnam (98) and was closest to Indonesia (129th).
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