PHL's improved global competitiveness affirms PNoy's reforms – Palace

The Philippines' improved global competitiveness is an indication that President Benigno Aquino III's reform programs are working, Malacañang said Wednesday.

 

In a statement, Communications Secretary Herminio Coloma Jr. said the latest World Economic Forum (WEF) global report on global competitiveness showed that the Philippines already has "foundations" for inclusive growth.

 

"The 2014-2015 Global Competitiveness Index (GCI) report of the World Economic Forum (WEF) affirms that the Aquino administration’s good governance programs have established the solid macroeconomic foundations upon which long-term inclusive growth may be attained," Coloma said.

 

A WEF report released earlier Wednesday showed that the Philippines ranked 52nd or seven notches up from 59th last year in terms of global competitiveness.

 

Presidential spokesman Secretary Edwin Lacierda meanwhile said that the WEF report affirms the Philippines' improved business climate.

 

"This latest measurement of the country’s competitiveness is another demonstration that the Philippines is indeed more open for business than ever before," Lacierda said in a separate statement.

 

He credited Filipinos' cooperation for the country's higher global competitiveness ranking. 

 

"This has been made possible by the Filipino people who, imbued with a positive, can-do attitude, are going from strength to strength in terms of governance and the economy," he said.

 

The Palace official further commended National Competitiveness Council, co-chaired by Trade Secretary Gregory Domingo and businessman Guillermo Luz, for the Philippines' latest feat. – Andreo Calonzo/VS, GMA News