Upbeat
No. 10.10.13 ď Žď Ž No. 2119 10.30.2008
PHL ranks 21st in global dynamism, 56th in world economic freedom Posting the biggest climb among the 60 countries ranked in the Grant Thornton Global Dynamism Index (GDI) 2013, the Philippines landed on the 21st spot this year, moving up 25 notches from its 46 th spot previously. The GDI ranks the dynamism of business growth environments based on five key areas: business operating environment, science and technology, labor and human capital, economics and growth, and financing environment.
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The Philippines' ranking can be attributed to notable improvements particularly in gross domestic product (GDP) expansion and labor and human capital where the country ranked third highest, based on the GDI 2013 results released by Punongbayan & Araullo, the Grant Thornton member firm in the country.
Among countries in the Association of Southeast Asian Nations (ASEAN) included in the report, the country ranked behind Singapore (7th), Malaysia (13th) and Thailand (19th), and ahead of Vietnam (27th). The country rose 11 notches to rank fourth in the economics and growth area. It also showed the biggest improvement in the labor and capital area, surging by 40 places to rank fifth for growing businesses, driven largely by labor productivity growth of 5.4%, next to China, Australia, Thailand, and Indonesia. Meanwhile, the Philippines moved to 56th place among 152 countries and territories around the world in the annual rankings on economic freedom. The country was in 61st place with a score of 7.12 in 2010. The Economic Freedom of the World: 2013 Annual Report released by Fraser Institute said the Philippines also improved its score to 7.21 out of a possible 10 points. The country was the second best performer among ASEAN member economies. Singapore was in the second place overall, Malaysia in 68 th , Indonesia in 80th, Thailand in 94th, and Viet Nam in 122nd place. The scores and world rankings in brackets for the Philippines were measured in five different areas: size of government 8.3 (8); legal system and property rights 4.6 (105); sound money 9.3 (40); freedom to trade internationally 6.7 (99); and regulation 7.1 (76).