The recent World Bank survey placing the Philippines among the countries with the best ease of doing business systems in the world and the vastly improved peace and order in the country have assured Filipinos of experiencing “sweet and very long” economic progress.
House Deputy Speaker Michael “Mikee” Romero made this observation following the release of the WB ease of doing business survey showing Philippines in 95th place which turned out to be 29 steps above its previous 124th place position.
The WB said Philippines was ranked among the 190 countries involved in the survey. This put the Philippines among the Top 50 percent of world countries that have climate conducive to business.
“The Philippines is now open for business,” stressed Romero as he noted that the country’s showing in the WB survey could be unprecedented.
“This jump into the circle of Top 50 percent world economies with good investment climate means the Philippines is becoming globally competitive and would redound to more local and foreign entrepreneurs opening new businesses and create more jobs,” he said.
Romero, who represents the 1Pacman partylist, said that aside from new jobs, wages of Filipino workers were expected improve due to better investment climate.
“This time, the ordinary Filipinos, particularly our marginalized and poor countrymen, will feel and benefit from the fruits of economic progress,” the House official stated.
Romero, who, before entering politics, was one of the country’s most successful young entrepreneurs, credited President Duterte for pursuing the correct formula towards achieving economic advancement.
The House official recalled that at the onset of his term, Duterte took an uncompromising stance against criminality to ensure a better peace and order condition.
The Chief Executive quickly launched moves to reform the economy with executive and legislative actions, such as the passage of Republic Act 11032 or the Ease of Doing Business Act of 2018. (Ben Rosario)
