PH must speed up reforms to sustain competitiveness: DTI chief

Published by rudy Date posted on June 19, 2020

By Kris Crismundo, Philippine Daily Inquirer, 19 Jun 2020

MANILA – Trade Secretary Ramon Lopez said the country should fast track reforms and implement policies that will sustain its competitiveness amid the coronavirus disease 2019 (Covid-19) pandemic.

The Institute for Management Development (IMD) reported early this week that the Philippines improved its ranking by a notch in the World Competitiveness Yearbook (WCY) 2020 to rank 45 from 46th spot last year.

The WCY ranked 63 countries this year in terms of the economic landscape, government efficiency, business efficiency, and infrastructure.

Among the notable indices for the Philippines include the labor market, which was ranked 10th; tax policy at 14th; and employment at 26th place.

“The Philippines stands on solid ground and has the momentum to overcome the current crisis,” Lopez said.

On the other hand, the country is nearly at the bottom of the WCY ranking in the infrastructure landscape which involves basic infrastructure, technological infrastructure, scientific infrastructure, health and environment, and education.

Lopez said the government is pushing through with the ‘Build Build Build’ program, investing heavily on basic infrastructure to fuel the country’s economic rebound amid the pandemic.

“As we enter 2021, the country will strongly recover from the difficulties brought about by this pandemic while being cautious of the challenges and risks that lie ahead in the new normal. The Philippines must be agile to accelerate reforms and pursue impactful economic policies to sustain the country’s growth momentum and competitiveness moving forward,” Lopez said.

Trade Undersecretary Rafaelita Aldaba added that digital transformation and moving to the fourth industrial revolution will further improve the country’s competitiveness.

“This is a pivotal moment as the crisis has presented opportunities to be more creative and build more resilient industries by repurposing manufacturing, using more data, artificial intelligence, Internet of Things, and accelerating digital adoption with all the startup work and tech innovation building up in the country. We are ready to expand our horizons and help the economy bounce back quickly,” Aldaba said. (PNA)

July 2025

Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”

Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.

Accept National Unity Government (NUG)
of Myanmar.  Reject Military!

#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos

Time to support & empower survivors. Time to spark a global conversation. Time for #GenerationEquality to #orangetheworld!

July


3 July – International Day of Cooperatives
3 Ju
ly – International Plastic Bag Free Day
 
5 July –
World Youth Skills Day 
7 July – Global Forgiveness Day
11 July – World Population Day 
17 July – World Day for
International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons 


Monthly Observances:

Schools Safety Month

Nutrition Month
National Disaster Consciousness Month

Weekly Observances:

Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week

 

Daily Observances:

First Saturday of July:
International Cooperative Day
in the Philippines

Categories

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.