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Poll: Most problematic factors in doing business in the Philippines |
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A survey conducted by the World Economic Forum, released through its Global Competitiveness Report for 2007-2008, identified corruption as the most problematic factor in doing business in the Philippines. The next six (6) of the most problematic factors, including policy instability and inefficient government bureaucracy, are also attributable to the government. These past days, we are confronted with the testimony of Rodolfo Noel "Jun" Lozada, Jr. at the Senate, regarding the alleged corruption in the aborted $329-million national broadband network (NBN) deal with China’s ZTE Corp. Some say this is a bit unfair, as the government is taking steps to improve the Philippine business environment.
Anyway, let's have our own poll, patterned after the survey of the Wold Economic Forum, on what the Pinoy Entrepreneurs think as the most problematic factors in doing business (vote for one factor only). The factors are as follows: Corruption (63.9%)
Inefficient government bureaucracy (13.9%)
Government instability/coups (8.3%)
Access to financing (5.6%)
Poor work ethic in national labor force (2.8%)
Policy instability (2.8%)
Crime and theft (0)
Inadequately educated workforce (0)
Inadequate supply of infrastructure (0)
Foreign currency regulations (0)
Restrictive labor regulations (0)
Tax rates and Tax regulations (0) Update: The poll was closed on 10 March 2008 and the list above was re-arranged to reflect the distribution of the 36 votes. Sinnce the poll is now closed, you could post your comments at the comment section below.
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