Phl among top 40% in regulatory framework – report

The Philippines was in the top 40 percent of 50 economies in terms of regulatory framework, but will need to make improvements in terms of public services and operational efficiency, according to the World Bank's Business Ready report.

- By LOUELLA DESIDERIO

The new report, which assesses the business and investment climate, replaces and improves upon the World Bank's Doing Business report, which the multilateral lender decided to discontinue in September 2021 due to internal reports of data irregularities.

Business Ready or B-Ready looks at economies' performance in terms of three pillars: regulatory framework, public services and operational efficiency.

In the regulatory framework, the Philippines ranked 16th out of 50 economies as it got a score of 70.68 out of 100.