THE Philippines ranked 67th out of 129 countries in the 2019 International Property Rights Index (IPRI) Report.

This is an improvement from rank 70 out of 125 countries in 2018. The country scored 5.31 in 2019 and 5.22 in 2018.

Department of Trade and Industry (DTI) Secretary Ramon Lopez reiterated the government’s commitment in providing protection on physical and intangible properties during the launch of the IPRI on Oct. 16, 2019.

According to the Trade chief, the government is actively pursuing the eradication of corruption in every aspect of society as well as pursuing the implementation of state policies on intellectual property.

High IPRI scores show high income and high development levels in a country and indicates a positive relationship between property rights regime and quality of life.

Lopez conveyed the importance of the IPRI as it focuses on one of the most important assets of humanity—the right to own, control, sell, donate and transfer one’s property.

Present during the launch were Foundation for Economic Freedom chairman Roberto De Ocampo, president Calixto Chikiamco, and Romy Bernardo, Minimal Government Thinkers president Bienvenido Oplas Jr, Hernando de Soto, Sary Levy-Carciente, Property Rights Alliance executive director Lorenzo Montanari and Intellectual Property Office of the Philippines director general Josephine Santiago. (PR)