Philippines competitiveness ranking up by 6 notches-A A +A
Wednesday, September 4, 2013
MANILA -- The Philippines climbed six notches to 59th place in the Global Competitiveness Report 2013-2014 from 65th place a year ago.
In a report, the World Economic Forum (WEF) said the Philippines was among the "most dynamic and rapidly improving economies in terms of competitiveness."
The Philippines, which was among the 148 economies ranked in the Global Competitiveness Index, had a score of 4.29.
Presidential spokesperson Edwin Lacierda welcomed the results of the report.
He said the report showed that the Philippine economy has continued with its upward trajectory in rankings, noting that from a low of 85th place when President Benigno Aquino III assumed post in 2010, the country has progressed 26 places to rank 59th in the international competitiveness landscape.
"This sustained improvement was credited heavily to the Aquino administration’s battle against corruption, which is seen in the significant improvements in the benchmarking scores of the 'Institutions' pillar that covers such governance challenges such as corruption and public sector competence," he said.
Halfway through the Aquino presidency, the institutions pillar of the Philippines jumped from 125th in 2010 to 79th, a rally of 46 places, Lacierda noted.
In the ethics and corruption category, the Philippines now ranks 87th compared to 135th in 2010, while government efficiency and other public sector variables have also steadily advanced, Lacierda explained.
Another pillar where the Philippines posted "heady growth" was in "innovation," he said, noting an improvement of 42 places to 69th this year from 111th in 2010.
"We attribute this to enhanced competition, which fosters creativity, and high morale of an increasingly empowered citizenry, sustained by the prospects of our future and the positive feeling about our country’s direction," he said.
"(A)midst the backdrop of a particularly difficult period for developing economies, this international affirmation serves as an endorsement of the President, the brand of transparent and accountable leadership he espouses, and the hard-fought reforms he and his allies have tirelessly pursued," Lacierda stressed. (SDR/Sunnex)