Philippines: Closing Statement of IFC Resident Representative Jesse Ang at the launch of Doing Business 2009

PHILIPPINES
Doing Business 2009 Report Launch

Closing Statement by Jesse Ang
International Finance Corporation Resident Representative

Makati City, September 10, 2008

Good Afternoon.

I am very much encouraged by the views expressed by our Honorable Guests – Undesecretary Zenaida Maglaya, Undersecretary Austere Panadero and Mayor Benhur Abalos  – as well as the ideas expressed during the Open Forum.

Hearing those views and good results gives us at the International Finance Corporation (IFC) renewed confidence that important sectors in the Philippines are working as a team to make it easier for businesses to be registered and to operate.
 
Now, Team Philippines is not only dribbling the ball—which we sometimes love to do too much—but bringing the ball down court and into the ring. We just have to work harder and faster to shoot that ball!

Definitely, steps have been taken to ease the regulations that would allow business to score and become a winner. The IFC and the World Bank have consistently been supportive of these steps.

Kim outlined certain IFC-World Bank initiatives that the various government agencies have picked up and have now started to run with the ball. As we heard from our speakers from government, the completion of these initiatives can be akin to scoring three point shots. These rainbow shots include commendable projects in starting a business, dealing with construction permits, getting credit and trading across borders. As you can see, these four areas are part of the 10 indicators of everyday business measured in Doing Business.
  
In these initiatives, the message is clear: IFC-World Bank does not stop at measuring indicators through its Doing Business report; it helps countries to make significant improvements in these areas.

As these initiatives have been undertaken, it is now imperative for the Philippines to hasten the process and complete these reforms. The clock is ticking; and we don't want to be left behind.

Reforming the business environment is a game of speed, as the 131 economies that have implemented 239 reforms in this Doing Business 2009 have shown. It requires intensity and focus; and the only time one scores is when he actually shoots the ball. Good intentions alone do not make a score.

Doing Business is about good rules for business. Good rules make for a good game. But a good game also needs fair, impartial referees. Thus both legislators and regulators have to work hand in hand. Playing by good rules will enable us to win.