MANILA: The Philippines’ competitiveness ranking has improved by six notches to 59th spot from last year’s 65th, according to the World Economic Forum (WEF).
Among the 10 Southeast Asian countries included in the report, the Philippines placed sixth in terms of competitiveness, ahead of Vietnam, Lao People’s Democratic Republic, Cambodia and Myanmar.
“We attribute this to enhanced competition, which fosters creativity, and high morale of an increasingly empowered citizenry, sustained by the prospects of our future and the positive feeling about our country’s direction,” presidential spokesman Edwin Lacierda reacted.
The country, however, trailed behind Singapore, Malaysia, Brunei Darussalam, Thailand and Indonesia. The WEF’s Global Competitiveness Report released yesterday measures productivity and competitiveness based on over 100 factors grouped into 12 pillars. The report covers 148 countries.
The WEF report showed that out of 148 countries covered, Switzerland got the top spot for the fifth year running.
Singapore and Finland, meanwhile, remained in second and third spots, respectively.
National Competitiveness Council private sector co-chair Guillermo Luz said during the report’s launch yesterday that based on the Philippines’ latest ranking, the country’s competitiveness has improved by a total of 26 places since it ranked 85th in 2010.
“The Philippines’ ranking improved as we posted gains in nine out of 12 pillars,” Luz said.
Finance Secretary Cesar Purisima attributed the improvement to the “gains of good governance” under President Aquino’s administration.
“This is a significant jump from our ranking of 87th in the report in 2009,” Purisima said.
The key drivers, he noted, were the innovation pillar which went up 25 places to 69th spot, institutions pillar which rose by 15 notches to 79th, and the financial market development pillar which climbed 10 places to 48th.
Other pillars which posted gains were goods market efficiency which placed 82nd from 86th spot last year; labour market efficiency which went up to 100th place from 103rd; infrastructure, 96th from 98th; health and primary education up by two places to 96th spot; technological readiness which placed 77th from 79th; and market size which improved by two places to 33rd.
The Philippine star
