Phl improves competitiveness, but still behind neighbors

MANILA, Philippines – The improvement in government efficiency and the fight against corruption helped the Philippines improve its competitiveness by six notches, the latest report from think tan World Economic Forum said.

According to the WEF’s “The Global Competitiveness Report 2013-2014”, the Philippines is ranked 59th out of 148 economies, getting a total score of 4.29 fom the three sub-indexes of “basic requirements, efficiency enhancers, and innovation and sophistication factors.”

“The trends are positive across most dimensions of the Index. In the institutions pillar (79th), the Philippines has leapforgged over the past years. The current government, which came into power in 2010, has made the fight against corruption an absolute priority; corruption had historically been one of the country’s biggest drags on competitiveness,” the report said.

The Geneva-based think tank said the campaign against corruption boosted the Philippines’ standing in the ethics and corruption strategy, up from 135th in 2010 to 87th this year.

“A similar trend has been observed in the government efficiency index,” the WEF said.

However, the report said the Philippines still needs to improve its transport infrastructure (84th), particularly its airport (113th) and seaport (116th) facilities.

Also, while the labor market has become “more flexible and efficient over the years,” the Philippines still ranks a low 100th.

“The recent successes of the government in tackling some of the most pressing structural issues are encouraging and proof that bold reforms and measures can yield positive results,” the report said.

Despite the improvement however, the Philippines is still in the bottom half among the 10 economies in Southeast Asia, ranking 6th in the region.

Singapore is ranked 2nd; Malaysia, 24th; Brunei Darussalam, 26th; Thailand, 37th; Indonesia, 38th; Vietnam, 70th; Lao PDR, 81st; Cambodia, 88th; and Myanmar, 139th.

“The competitiveness landscape in Asia and the Pacific remains very mixed. The region is home to some of the most competitive nations, including three members of the top 10 (Singapore, Hong Kong SAR, and Japan) and some of the most dynamic and rapidlky improving economies in terms of competitiveness, such as Indonesia and the Philippines,” the report added. –(philstar.com)