Upbeat No. 09.10.14 nn No. 2119 10.30.2008
PHL climbs 7 notches in global competitiveness index The Philippines rose seven notches to 52nd place in the World Economic Forum (WEF) Global Competitiveness Report this year. The WEF’s 2014-2015 global competitiveness ranking cited reforms implemented by the Aquino Administration as major factors for the improvement. The Philippines’ seven-notch jump is the biggest improvement among Association of Southeast Asian Nations (ASEAN) members, followed by Thailand’s improvement to 31st from 37th last year.
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"The country’s gain of 33 places since 2010 is the largest over that period among all countries studied. The results suggest that the reforms of the past four years have bolstered the country’s economic fundamentals," WEF said.
The report series remains the most comprehensive assessment of national competitiveness worldwide. The global competitive index measures the competitiveness of 144 economies based on over 100 factors grouped into 12 pillars, providing insight into the drivers of their productivity and prosperity. “The trends across most of the 12 pillars are positive, and in some cases truly remarkable,� the report said. The Philippines posted strong result in macroeconomic environment categories (26th). The country has also leapfrogged some 50 places in the institutions pillar (from 117th to 67th) since 2010. In particular, there are signs that the efforts made against corruption have started bearing fruit: the country has moved from 135 th in 2010 to 81 st this year in terms of ethics and corruption. n