Upbeat No. 02.27.14 nn No. 2104 10.30.2008
PHL excels in 7 out of 8 competitiveness indices The Philippines improved in seven out of eight global competitiveness indices for 2013, the National Competitiveness Council (NCC) reported. “Out of eight major competitiveness reports released last year, we recorded gains in seven of them and held ground in one. This is the first year this has been done,� NCC Private Sector Co-Chairman Guillermo M. Luz said. Among the seven competitiveness rankings where the Philippines improved, it was in the Ease of Doing Business Report, produced annually by the World Bank (WB) and International Finance Corp. (IFC), where the country advanced the most last year. T rade and Industry Information Center Makati City, Philippines Tel.: (632) 895.3611 Fax: (632) 895.6487 publications@dti.gov.ph
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From 138th place, the country improved by 30 spots to 108th out of 189 economies on the list, which tracks changes in regulations on domestic small and medium-sized companies.
The country, WB Philippines Country Director Motoo Konishi said, had accomplished “more than any other country measured... This is the first major improvement for the Philippines in the Doing Business ranking since the report started 11 years ago.” Luz said much of the gains were the result of joint efforts by the public and private sector over the last three years. With the jumps in the rankings, Department of Trade and Industry (DTI) Secretary Gregory L. Domingo said the goal to be in the top third by 2016 “is something that is not a stretch target anymore.” “This target has become quite achievable, and we may even surpass this target significantly. We are now in a position to take off because of our infrastructure, business procedures, and legal system. We are still behind developed countries, but we are significantly ahead of many of our peers,” Domingo said. The Philippine economy has so far expanded above its 6%-7% target, averaging 7.4% in the first three quarters of 2013. n Other competitiveness rankings where the Philippines clinched higher ranking • World Economic Forum’s (WEF) Global Competitiveness Index
up six places to 59th out of 148 economies
• International Institute for Management and Development’s 2013 World Competitiveness Yearbook
up six places to 38th out of 60 economies
• Transparency International’s Corruption Perception Index
up 11 places to 94th out of 177 economies
• Heritage Foundation’s Index of Economic Freedom
up five places to 97th out of 177 economies
• WEF’s Travel and Tourism Competitiveness Report
up 12 places to 82nd out of 140 economies
• World Intellectual Property Organization’s Global Innovation Index
up five places to 90th out of 142 economies