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Doing business in PH better following reforms

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THE ease of doing business in the Philippines has improved slightly following recent reforms aimed at making the country a more attractive investment destination, a multinational professional services firm said.

Dutch-based TMF Group's latest Global Business Complexity Index ranked the Philippines 34th out of 79 countries, an improvement from 31st in the 2023 edition of the report.Greece, in first place, is the most complex country to do business in this year, followed by France and Colombia. China, ranked 11th from 15th in 2023, is the most complex jurisdiction in the Asia-Pacific region.

'The country benefits from a stable political and economic environment, which means the government can focus on improving systems and processes to facilitate foreign investment,' it added.It noted efforts to shift taxation and registration online and particularly cited the recent approval of the Ease of Paying Taxes law and the Internet Transactions Act .

 

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