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The Philippines is on track with its efforts to become more
competitive in global trade, said Cesar Bautista, National
Competitiveness Council (NCC) co-chairman, citing the country’s
improved ranking in an annual global competitiveness survey.
This year, the country ranked 40th overall out
of 55 countries surveyed by the World Competitiveness Yearbook,
notches higher than its 45th place overall position last year.
The country registered the second highest jump
in overall ranking among Asian nations this year, inching five
notches up, with only Thailand posting a better overall position
improvement, with a six-place improvement, from 33rd in 2007 to 27th
this year. The Philippines also consistently ranked 12th among 13
Asian countries surveyed, edging only Indonesia.
The overall ranking of the World Competitiveness
Yearbook is based on the following criteria: Economic performance;
government efficiency; business efficiency; and infrastructure. A
country’s ability to administer its competencies to further its
development, in accordance to the said criteria, was analyzed.
The World Competitiveness Yearbook ranked the
Philippines 42nd in economic performance, with the country lagging
behind in gross domestic product per capita distribution, although
the study noted the country has among the cheapest cost of living.
The Philippine government efficiency was only
good for 41st place, as political instability and insufficient
transparency were cited by the study as among the major problems.
The country landed in 31st position in terms of
business efficiency, as the survey noted the Philippines’ abundant
skilled labor, and its workers’ high flexibility and adaptability
when faced with new challenges.
The survey showed the country boasting the
lowest-priced Internet usage costs, but hitting bottom in terms of
pupil to teacher ratio and enrolment in secondary schools. The
survey also noted the country’s meager spending on health and
education, landing the Philippines in 48th rank in terms of
infrastructure.
The study suggested that the Philippines pursue
education policies that would help develop a globally competitive
workforce and accelerate completion of priority infrastructure
projects, among others.
The Philippines ranked 40th overall in 2005, but
it slid to 42nd in 2006 and 45th in 2007, its lowest ranking in
recent years.
The US topped this year’s survey, followed by
Singapore, and with Hong Kong, Switzerland and Luxembourg completing
the list of the five most competitive countries. The same countries
made it to the top five of the study last year.
The World Competitiveness Yearbook is an annual
study started in 1989 and conducted by the World Competitiveness
Center of the Institute of Management Development in Switzerland. It
has since become the most comprehensive source of knowledge on a
country’s competitiveness.
The annual local survey of the Philippines is
accomplished in partnership with the Asian Institute of Management
Policy Center.
-- Ben Arnold O. de Vera
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