(philstar.com)
| Updated May 21, 2013 - 9:00pm
MANILA,
Philippines (Xinhua) - President Benigno S. Aquino III has created an
inter-agency task force that will help investors do business in the country.
Executive
Secretary Paquito Ochoa Jr. said today that Aquino signed Administrative Order
No. 38, creating the Task Force on Ease of Doing Business (EODB Task Force)
that will improve the country's global ranking in business competitiveness.
The task
force will be headed by the Secretary of the Department of Trade and Industry.
The
Philippines ranks 138th out of 185 countries in the world, and is 8th out of
the 10-member Association of Southeast Asian Nations (ASEAN) in the Doing
Business Survey (DBS) of the World Bank International Finance Corporation
(IFC).
According to
the IFC, the country's poor ranking is due to the difficulties that local
entrepreneurs have to go through in order to set up and maintain their
businesses.
The business
survey of the IFC measures and tracks business regulations across 10 indicators,
namely: starting businesses, dealing with construction permits, getting
electricity, registering property, getting credit, protecting investors, paying
taxes, trading across borders, enforcing contracts, and resolving insolvency.
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