The ASEAN Business Advisory Council (BAC) has called for ASEAN leaders to include in their declaration the region’s target to align processes in starting a business, the group’s executive director Gil Gonzales said.
Gonzales told the Philippine News Agency that the ASEAN BAC aims to hear more specific targets from ASEAN leaders that will further ease doing business in the region.
Gonzales said ASEAN should set a target on what level they wanted to harmonize the process in starting a business.
He mentioned that the process of starting a business in the Philippines, for instance, should also be the same process in other ASEAN states.
“That’s the kind of declaration we want,” he said adding that ASEAN could look into aligning harmonization in taxation, among other pillars in doing business.
But Gonzales noted that aligning processes in starting a business is a low-hanging fruit.
In World Bank’s Doing Business Report, Singapore topped in ease of doing business not only in ASEAN but worldwide.
In the same report, global ranking of Malaysia was at 18, Thailand at rank 49, Brunei Darussalam at 84, Vietnam at 90, the Philippines at 103, Indonesia at 109, Cambodia at 127, Lao PDR at 134, and Myanmar at 167. (KMC/PNA)