Philippines eyes top 20% in World Bank business ready rankings by 2026
- Asia First
- Oct 30, 2024
- 1 min read
The Philippines aims to join the top 20% of countries in the World Bank’s Business Ready (B-READY) rankings by 2026, according to the Anti-Red Tape Authority (ARTA). The B-READY report evaluates economies based on regulatory framework, public services, and operational efficiency. In the inaugural report released earlier this month, the Philippines ranked 16th out of 50 economies in regulatory framework, placing it among the top 40%. However, it ranked lower in public services (24th) and operational efficiency (36th). ARTA emphasised that improving the country’s standing in the B-READY report is key to attracting foreign direct investments, as global investors closely monitor such rankings. The World Bank’s next B-READY report is scheduled for release in 2026.