10 November 2011

PH ranks 4th in "The World's 10 Worst Countries for Business" list



Based on the World Bank's "Ease of Doing Business" study that surveyed 183 countries, CNBC.com came up with their own list—The World's 10 Worst Countries for Business on November 3.  The Philippines was ranked fourth because of its "unstable legal system, violence, and bureaucracy."

The CNBC.com rankings take into consideration leading indicators such as the ease of starting a business, getting construction permits, paying taxes, and investor protection laws.

CNBC.com pointed out: "Despite having massive untapped mineral wealth, a key geographical location between Southeast and North Asia and a large, growing English-speaking population, the Philippines has fallen behind its neighbors in economic growth. The country also ranks among the lowest when it comes to starting a business, and resolving insolvency, with the latter taking more than five and half years."

Check out CNBC.com's complete list:

1.Venezuela 
2. Ukraine
3. Algeria
4. Philippines
5. Nigeria
6.India
7. Indonesia
8. Brazil
9. Russia
10. Argentina

Source: spot.ph

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