PHL tops 'worst countries' for doing business in Asia--CNBCP

[Monseratto]

If it's on the subject of either worst or hated, the Philippines always tops the list...

PATERNO ESMAQUEL II, GMA News
11/09/2011 | 04:30 PM



(Updated 5:51 pm.) Despite its mineral wealth and large English-speaking population, the Philippines is the most difficult Asian country to do business in, said news network CNBC in its recent list of the World’s Worst Countries for Business.

The list, which is based on the World Bank’s “Ease of Doing Business" report, also ranked the Philippines as the fourth worst place for business on a global scale. Two other Asian countries – India and Indonesia – made it to the list at sixth and seventh place, respectively.

CNBC noted that the Philippines attracted only 2.5 percent of the $76.5 billion of foreign direct investments that flowed to the Association of Southeast Asian Nations’ 10 members in 2010.

“Foreign businesses are wary of the Philippine’s unstable legal system, violence, and bureaucracy. Its ease of doing business ranking from the World Bank fell a further two spots this year from 2010," the business news agency explained.

It also noted that the Philippines ranks among the lowest in starting a business and resolving insurgency. The latter takes more than five and a half years compared with the average one year and seven months in countries belonging to the Organization for Economic Cooperation and Development, CNBC said.

‘Dissecting the issue’

Virgilio Fulgencio, National Competitive Council Philippines (NCCP) executive director for public sector, acknowledged the findings of the WB report on which the CNBC report was based.

To address the most pressing problems in relation to the WB report, the NCCP will convene a meeting with the concerned national and local officials on Nov. 18, Fulgencio noted. “We’re really studying and dissecting the issue para ma-isolate natin ang dapat gawin," he said.

President Benigno Aquino III is active in attracting foreign investments, with the President recently inviting Chinese investors to invest in the Philippines, Fulgencio added.

The Philippines also jumped 10 notches to 75th in the World Economic Forum’s global competitiveness index this year, CNBC added. — VS, GMA News

[uls]

hehe

tagal ko na sinasabi sakit sa ulo mag business dito

[sgt_taga]

matter of time na lang... we'll top this list.

YOY, palala nang palala ang mga problema ng pinas na lahat na lang ng pinoy eh alam maliban sa mga nauupo sa gobyerno.

lack-of and non-action of every leader voted by the masses gets us closer and closer to being the topnotcher

tsk tsk

[thejerk]

i'm not surprised.

[blitz122805]

True. Ang hirap at magulo ang systema kahit simpleng business lang. Mga locals nga nadidiscourage mag put up ng business pano pa kaya mga foreigns.

[chua_riwap]

lahat nga puro negative nababasa natin sa news lately about the philippines.
the only positive news is lolong.......

[CoDer]

What else is new.

Noong alaw ok ka pag nag declare ng tamang buwis.

Ngayon? Sobre na lang.

At pag nag process ka ng permits...

"Ser, para mabilis ma pirmahan yan eh magbigay ka na lang ng por da boys."

[Altis6453]

If only the PH can implement:

1. One-stop, one-time business registration and licensing which would take only 2 weeks max;

2. Simplified taxation scheme for businesses with online payment facility or bank payment facility with any commercial bank (not with LandBank or PNB, please!);

3. Simplified and expedited importation and exportation customs procedures;

You'd see business activities rise exponentially. Then again, that's probably wishing for utopia.

[yapoy86]

nasa tao yan... siguro sadyang corrupt ang mga pinoy...hinayaan kasi natin eh..

[Ry_Tower]

If only the PH can implement:

1. One-stop, one-time business registration and licensing which would take only 2 weeks max;

2. Simplified taxation scheme for businesses with online payment facility or bank payment facility with any commercial bank (not with LandBank or PNB, please!);

3. Simplified and expedited importation and exportation customs procedures;

You'd see business activities rise exponentially. Then again, that's probably wishing for utopia.

AFAIK meron na every january sa city hall dito na nag-iimplement nga ganyan para hindi na mahirap kung saan ka pupunta.