MANILA – Transparency in government processes attract more foreign investments to the Philippines, an official of a business entity said during the Business 2020 Beyond the Metro forum in Taguig City on Friday.
Investors are closely looking at the ease of doing business ratings of every country to gauge opportunities and possible successes, said Amanda Carpo, legal counsel and co-founder of private office and co-working space provider KMC Solutions, which hosted the forum.
Carpo said the improvement of the Philippines’ ranking in the World Bank’s Ease of Doing Business Report to 95 out of 190 countries is good news.
She said investors look for ease in getting permits and in registration so they would be able to start operations in the country.
“The Ease of Doing Business will tell you, in a way, how economically successful a country is,” Carpo said.
She also noted that investors want to predict the success of their operations in a certain area, and they can only do that “in an environment that is transparent” or where they can easily get information on the requirements to set up a business, the time table for getting the permits, and the setbacks they might face.
Carpo also said that investors are not just looking at opening businesses in major cities but other areas that are starting to rise.
The growth of businesses in secondary- and tertiary-ranked areas is exponential because once a company starts a business, it will have a ripple effect on the economy, she said, encouraging more businesses to consider operations in these areas. “Businesses should look outside Metro Manila. The opportunity is there,” Carpo added. (PNA)
