The Department of Labor and Employment (DOLE) and stakeholders on Thursday welcomed the improvement of the country’s ranking in Doing Business 2020 Report released by the World Bank.

Labor Secretary Silvestre Bello III acknowledged the efforts of the Duterte administration to achieve such recognition.

“We congratulate the President and his economic team for the improvement of the PH ranking in the Doing Business 2020 Report released by the World Bank,” Bello said in a statement.

“On the part of the labor department, we welcome this development as this would mean more investors will be encouraged to set up businesses in the country which would eventually translate to more employment opportunities for the Filipino labor force,” the DOLE chief added.

Partido Manggagawa (PM) national chair Rene Magtubo, meanwhile, sees this recognition as an opportunity that may generate more jobs for Filipino workers.

“It’s a welcome development! We do hope that the improvement in the ease of doing business would redound to attracting investments that may generate opportunities for employment for the country’s labor force,” he said.

The Federation of Free Workers (FFW), meanwhile, noted it will attract foreign investors to do business in the country.

“This should result in more decent employment opportunities. This should also provide less reason for contractualization to flourish,” said Julius Cainglet, vice president for Research, Advocacy and Partnerships of FFW.

Louie Corral, Vice President of Associated Labor Unions-Trade Union Congress of the Philippines (ALU-TUCP) also welcomed the recognition.

“It is good that on one side of the equation there is an ease of doing business law that lessens the time and hassle for investors and locators to put up operations. That means Filipino workers get hired and jobs are created,” he said.

The Philippines improved 29 notches to 95th in the ease of doing a business survey by the international financial institution.

The country has recovered from the double-digit declines it endured during the last two years. (PNA)