| Palace grateful for Phl improved ranking on economic freedom By Aurea Calica The Philippine Star January 15, 2012 |
MANILA, Philippines - Malacanang expressed gratefulness yesterday over a report that Philippines had risen in the world economic rankings to 107 from 115 previously despite a challenging global economic environment.
It also welcomed the HSBC Expat Explorer Survey result, which ranked the Philippines as the eighth friendliest country in the world.
The 2012 Index of World Economic Freedom released on Thursday said among 179 countries rated, the Philippines had the 107th freest economy with a score of 57.1. The report said the country’s score was 0.9 point higher than last year, attributable in large part to a significant improvement in business freedom.
Deputy presidential spokesperson Abigail Valte said over dzRB that the Philippines improved its ranking because of economic expansion and the efforts of the government to pursue legislative reforms to enhance the business environment.
“We are also happy to note that even the report itself, an assessment from (a) third party, notes that our regulatory efficiency has been notably enhanced. This is what President Aquino has always been saying - that we are really after efficiency and government. We have been trying to streamline systems. Business registration that will take anywhere between 24 to 48 hours can now be done in 15 minutes. These are the small things that can help businessmen who want toinvest in the Philippines,” Valte said.
“And the other good news, we’re also happy to note that in one of the surveys conducted by HSBC... And this is why we believe that it really is more fun in the Philippines like what the Department of Tourism is saying,” Valte said.
It also welcomed the HSBC Expat Explorer Survey result, which ranked the Philippines as the eighth friendliest country in the world.
The 2012 Index of World Economic Freedom released on Thursday said among 179 countries rated, the Philippines had the 107th freest economy with a score of 57.1. The report said the country’s score was 0.9 point higher than last year, attributable in large part to a significant improvement in business freedom.
Deputy presidential spokesperson Abigail Valte said over dzRB that the Philippines improved its ranking because of economic expansion and the efforts of the government to pursue legislative reforms to enhance the business environment.
“We are also happy to note that even the report itself, an assessment from (a) third party, notes that our regulatory efficiency has been notably enhanced. This is what President Aquino has always been saying - that we are really after efficiency and government. We have been trying to streamline systems. Business registration that will take anywhere between 24 to 48 hours can now be done in 15 minutes. These are the small things that can help businessmen who want toinvest in the Philippines,” Valte said.
“And the other good news, we’re also happy to note that in one of the surveys conducted by HSBC... And this is why we believe that it really is more fun in the Philippines like what the Department of Tourism is saying,” Valte said.
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