(Eagle News)–The Palace on Wednesday, May 29, expressed optimism there would be “further improvements” in the country’s economy, following the Philippines’ moving up four notches in the World Competitiveness ranking.
According to Presidential Spokesperson Salvador Panelo, this was because of the “strong and effective style of governance by President Rodrigo Roa Duterte..”
“Putting premium on cutting down red tape and promoting ease in doing business while we begin to implement the nation’s most ambitious infrastructure program, Build-Build-Build, boost the government’s strategy for sustained and inclusive growth,” Panelo said.
According to Panelo, there is also an “emerging investor confidence in our country.”
He said this “shows our trade environment remains attractive and viable to foreign businesses.”
“There is every reason to look forward to a bright future for our country’s economy and our people,” he said.
The Philippines ranked 46th out of 63 economies, four notches above its 50th ranking last year, in the 2019 index of the Switzerland-based International Institute for Management Development.
The rankings were based on four factors: economic performance; government efficiency; business efficiency and infrastructure.
The Palace said the Philippines improved in all four.