MANILA, (Mabuhay) – The latest jump in the country’s competitiveness ranking proves that the country is ready to take in more businesses and investments, Malacañang said Wednesday.
“Coming on the heels of the successful WEF (World Economic Forum) on East Asia in Manila last May, this latest measurement of the country’s competitiveness is another demonstration that the Philippines is indeed more open for business than ever before,” Presidential Spokesperson Edwin Lacierda said, in reaction to the WEF Global Competitiveness Report that showed the Philippines climbing seven places to rank 52.
“In our region, for example, the Philippines is considered one of the brightest spots, and is the second fastest growing economy among major Asian countries for the second quarter, tied with Malaysia,” he added.
Communications Secretary Herminio “Sonny” Coloma Jr., on the other hand, said the government continues to address the need to improve infrastructure.
“The biggest area of improvement is still Infrastructure and this is being addressed with the launching of major projects that are being implemented by using the public-private partnerships mode,” he said during a press briefing. (MNS)