PHL seen on track to enter top tier of WB’s B-Ready ranking by 2028

THE Anti-Red Tape Authority (ARTA) said the Philippines is poised to enter the top 20% of countries assessed by the World Bank’s (WB) Business Ready (B-Ready) report by 2028. 

“We have to aim high, because this is very important for our country. We have to project the image of the Philippines as ready for business,” ARTA Director-General Ernesto V. Perez told reporters on the sidelines of the 2026 Business Ready Reforms Forum on Thursday.

The Philippines placed 53^rd out of 101 economies in the B-Ready 2025 report, which assesses the global business and investment climate, specifically regulatory frameworks, public services, and operational efficiency.

“When we move our ranking, this will encourage foreign investors to come here instead of going to Vietnam, Malaysia, or Thailand,” Mr. Perez said.

However, he noted that investor confidence is hampered by implementation issues of existing laws meant to improve the ease doing business.

“We have all the good laws and regulations available… but this is not felt by the stakeholders,” Mr. Perez said.

In the Philippines, it takes about 53 days to start a Filipino-controlled business, while the registration for a foreign firm takes 77.5 days, according to the B-Ready report.

“Part of the delay comes from fragmented processes and lack of alignment across agencies,” ARTA Better Regulations Office Director Marbida L. Marbida said.

During the forum, Ms. Marbida presented a draft joint memorandum circular (JMC) that seeks to create the Business Registry Forum for Corporate Registration and Licensing (BRF-CRL).

The BRF-CRL is designed to align requirements, issue guidance, maintain regulatory data, and resolve sector-specific registration issues. 

The JMC tasks the ARTA with serving as chair and secretariat of the BRF, with the Securities and Exchange Commission designated vice-chair.

The BRF will cover registration of priority industries like transportation, learning and education, and mining and energy. — Beatriz Marie D. Cruz