PHL seen in world's top 30% in competitiveness by 2016 – DTI's Domingo
The Philippines is on track to being ranked within the top
30 percent economies in various competitiveness surveys by 2016, a Cabinet
official said Thursday.
“We will be in the top 30 percent in most if not all competitiveness surveys... by 2016,” Department of Trade and Industry Secretary and National Competitiveness Council (NCC) public sector chair Gregory Domingo told a press briefing.
For example, Domingo said the Philippines competitiveness ranking in the World Bank's Doing Business report is seen increasing to the 62nd spot “or better” in 2016.
Based on the World Bank's Doing Business report, the Philippines ranks 138th out of 185 countrie
The World Economic Forum, on the other hand, recently moved the Philippines six places up to 59th in its Global Competitiveness Report of 148 countries.
Domingo said that government reforms creating a conducive environment “will be in place” by 2015.
“Once we achieve these reforms, doing business in the Philippines will be easier and that should improve our rankings,” he said.
At the same briefing, NCC private sector co-chair Guillermo Luz said the country is likely to improve its ranking by 20 to 25 places in the next Doing Business report next month.
“We have not been doing well in this report so we spent a lot of time reviewing this report,” he said, adding that the NCC's report sent to the World Bank shows improvement in eight out of the ten indicators being tracked.
Reforms cited include cutting down steps and days in starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes and trading across borders.
Officials maintained that reforms are being undertaken not to improve the country's competitiveness ranking, but to attract more businesses and investments to the country.
“We are putting in reforms for entrepreneurs. If our ranking does not improve but more want to invest here, then we are competitive,” Luz said.
The government wants to seize the Philippines' favorable economic conditions – robust growth as well as healthy payments and fiscal position – by providing a more conducive environment for businesses and investments.
“Our relative competitiveness in Asia and ASEAN [Association of Southeast Asian Nations] is the best it has ever been and will continue to improve,” Domingo said. – SOA/BM, GMA News
“We will be in the top 30 percent in most if not all competitiveness surveys... by 2016,” Department of Trade and Industry Secretary and National Competitiveness Council (NCC) public sector chair Gregory Domingo told a press briefing.
For example, Domingo said the Philippines competitiveness ranking in the World Bank's Doing Business report is seen increasing to the 62nd spot “or better” in 2016.
Based on the World Bank's Doing Business report, the Philippines ranks 138th out of 185 countrie
The World Economic Forum, on the other hand, recently moved the Philippines six places up to 59th in its Global Competitiveness Report of 148 countries.
Domingo said that government reforms creating a conducive environment “will be in place” by 2015.
“Once we achieve these reforms, doing business in the Philippines will be easier and that should improve our rankings,” he said.
At the same briefing, NCC private sector co-chair Guillermo Luz said the country is likely to improve its ranking by 20 to 25 places in the next Doing Business report next month.
“We have not been doing well in this report so we spent a lot of time reviewing this report,” he said, adding that the NCC's report sent to the World Bank shows improvement in eight out of the ten indicators being tracked.
Reforms cited include cutting down steps and days in starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes and trading across borders.
Officials maintained that reforms are being undertaken not to improve the country's competitiveness ranking, but to attract more businesses and investments to the country.
“We are putting in reforms for entrepreneurs. If our ranking does not improve but more want to invest here, then we are competitive,” Luz said.
The government wants to seize the Philippines' favorable economic conditions – robust growth as well as healthy payments and fiscal position – by providing a more conducive environment for businesses and investments.
“Our relative competitiveness in Asia and ASEAN [Association of Southeast Asian Nations] is the best it has ever been and will continue to improve,” Domingo said. – SOA/BM, GMA News
