PH global competitiveness ranking improves, up by 10 places

Interaksyon.com, citing the Global Competitiveness Report prepared by the World Economic Forum (WEF), reports: "The Philippines’ competitiveness ranking among 142 countries jumped 10 places, to 75, from last year, the biggest improvement in this year’s [report]."

Here’s some good news.

 

Interaksyon.com, citing the Global Competitiveness Report prepared by the World Economic Forum (WEF), reports: "The Philippines’ competitiveness ranking among 142 countries jumped 10 places, to 75, from last year, the biggest improvement in this year’s  [report]."

 

"Up 10 places to 75th, the Philippines posts one of the largest improvements in this year's rankings. The vast majority of individual indicators composing the GCI [Global Competitiveness Index] improved, sometimes markedly," the WEF revealed.

 

The Interaksyon.com article described the WEF as a "Geneva-based independent and impartial not-for-profit international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional, and industry agendas."

 

Interaksyon.com explained that the country's survey sample was taken from among the members of the Makati Business Club (MBC), the Management Association of the Philippines, the Business Processing Association of the Philippines and the Semiconductor and Electronics Industries in the Philippines Inc. from March to April 2011. Out of 14,000 business leaders around the world, around 90 respondents participated from the Philippines.

 

The Makati Business Club (MBC) is the WEF’s country partner institute. MBC chairman Ramon del Rosario Jr. cited the government's efforts at fighting corruption and addressing governance issues as the main factors for the improved ranking.

 

Among the indicators of the Philippines’ competitive advantages listed by the WEF are the extent of staff training, intensity of local competition, trade tariffs, degree of customer orientation, reliance on professional management, availability of financial services, and soundness of banks.

 

The report also cited major areas of competitiveness that the Philippines must address: corruption, physical security, quality of seaport, quality of airport infrastructure, inefficient labor market, and quality of primary education.

 

For more on this story, log on to Interaksyon.com.

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