PH improves in 7 of 12 global report cards
MANILA, Philippines – Within 4 years, the Philippines improved in 7 of 12 global competitiveness ranking, with the highest jump by 53 notches in World Bank’s Ease of Doing Business report.
National Competitiveness Council (NCC) Philippines co-chair Guillermo Luz said Thursday, December 11, this positive performance in majority of global competitiveness scorecards indicate the country's seriousness in its reform agenda, which could translate to better trust among the private sector.
“When you have higher trust, it’s easier to have investments in,” Luz said.
This competitiveness report tests world economies against a wide range of indicators – from how short business processes are, to how each citizen work, consume, and invest.
“These are what we call the diagnostic tools that tell us the state of competitiveness in the country by indicator,” Luz told reporters.
The country also performed well in Transparency International’s Corruption Perception Index, ranking 85th out of 178 countries surveyed in 2014, up by 9 notches.
Other global reports where the Philippines saw a favorable upgrade include (based on improvement):
|Report||2014||2013||Change||Performance in 3 or 4 years|
|Ease of Doing Business||95/189||108/109||+13||+63|
|Global Competitiveness Report||52/144||59/148||+7||+33|
|Corruption Perception Index||85/175||94/177||+9||+49|
|Economic Freedom Index||89/178||97/177||+8||+26|
|Global Information Technology Report||78/148||86/144||+8||+8|
|Travel and Tourism Report||n/a||82/140||+12||12|
|Global Enabling Trade Index||64/138||n/a||+8||+28|
World Economic Forum (WEF)
- Global Competitiveness Report
- Global Enabling Trade Index
- Global Information Technology Report
- Travel and Tourism report
Toward a healthy environment for businesses
Luz, who represents the private sector in the NCC, said the Philippines could leverage these achievements with investors, as this an indication that the country is moving forward in addressing competitiveness issues.
“We need to keep this level of performance going,” he said.
NCC is a public-private sector task force that develops national competitiveness. It was formed in 2006 through an executive order signed by then President Gloria Macapagal Arroyo.
One of its mandates is to direct government agencies to look into bottlenecks and problems that make the Philippine business environment unfriendly among the private sector.
The economy grew by 6.4% in the quarter of 2014, thanks to the strong performances of the industry and services sectors, offsetting lower government spending partly blamed on “administrative bottlenecks.”
Bottlenecks, according to Economic Planning Secretary Arsenio Balisacan, referred to the delays in approving rehabilitation projects for communities devastated by Super Typhoon Yolanda (Haiyan).
But despite being one of the fastest growing economies in Asia, the country needs to work more in enhancing public-private partnerships, develop capital markets, and boost access to finance, the economic think tank said. – Rappler.com