The Anti-Red Tape Authority (ARTA) said it aims to secure a spot for the Philippines in the top 20 percent of the B-Ready report by the World Bank by 2026.
“We should always aim for the top. We shouldn’t just be in the top 40; we should be in the top 20. That’s our target,” said ARTA director-general Ernesto Perez on the first day of the three-day Ease of Doing Business (EODB) Convention on Oct. 28 to 31, 2024.
ARTA plans to form technical working groups, together with key government agencies to streamline and digitize government processes and services to achieve its goal.
Perez said this would significantly enhance the country’s business environment and attract more foreign direct investment.
The Philippines recently figured in the top 20 percent of some 50 countries surveyed for the B-Ready report.
It landed at the 16th spot in the regulatory framework pillar of the B-Ready report, recognizing the government’s progress in establishing clear and effective regulations.
The country still needs to enhance public services and operational efficiency.
B-Ready is the World Bank’s corporate flagship report that evaluates the business and investment climate worldwide.
World Bank lead economist Gonzalo Varela highlighted the importance of a strong business environment in driving economic growth and attracting investment.
ARTA said it remains optimistic about the country’s future, with ongoing initiatives aimed at improving the business climate and attracting foreign investment.
The agency is confident that by 2026, the Philippines will be a top-tier destination for businesses.
