Finance Secretary Cesar Purisima believes that the Philippines will continue to improve its ranking in global competitiveness given the implementation of reforms in good governance among others.
This after the country maintained its position as the 59th among 148 countries ranked by the World Economic Forum’s Global Competitiveness Report from 2013 to 2014, same as last year’s ranking. In 2009, the country was ranked 65th among 144 countries.
“As we make progress in further solidifying the gains of good governance, I fully expect to see the Philippine business environment become even more vibrant, more dynamic, and most importantly, more open and welcoming of opportunity. No doubt we will see even greater rises in the Global Competitiveness rankings in the future,” Purisima said.
The Finance chief cited in particular the 15 places jump in the ranking on “institutions” pillar to 79th place.
“This ranking is a sign that our partners have observed less diversion of public funds, less wasteful spending, and more efficient legal and administrative frameworks that support business in the Philippines,” he said.
Another factor that he noted is the improvement by 25 places to 69th of the country’s ranking in terms of “innovation” pillar, which he said is a proof that “we have made progress in driving business with the inherent talent, creativity, and ingenuity of our people.”
“Truly, the gains of good governance under President [Benigno] Aquino [3rd] have resounded to the business community, as investors in the Philippines now enjoy a playing field that is more stable, more transparent, and more level than it has ever been,” he added. PNA