The gains being made by the Duterte administration to make the Philippine economy

more competitive in the eyes of foreign investors are getting noticed.

The Philippines jumped four notches in the 2019 global competitiveness report of
Swiss business school IMD (International Institute for Management Development),
which cited the country’s skilled workforce, economic dynamism, cost-
competitiveness, open and positive attitudes and the population’s high educational
level as key factors for businesses to locate here.

The rebound to the 46th position from 50th out of 63 economies surveyed last year
was driven mainly by the country’s solid economic performance, reflected in the
sustained real GDP growth of 6.2 percent in 2018 and an increase in labor force and
employment levels.
The Philippines ranked high in the following: labor marke (10th), domestic economy
(12th) and tax policy (14th). However, it ranked low in basic infrastructure (61st),
scientific infrastructure or research and development (59th), education (58th), health
and environment (56th), business legislation (54th) and international trade (54th).
IMD, which has been doing the annual rankings since 1989, evaluates the extent to
which a country fosters an environment where enterprises can achieve sustainable
growth, generate jobs and ultimately improve the welfare of its citizens.
It assessed the 63 economies on more than 230 indicators, grouped into four factors:
economic performance (including international trade and investment); government
efficiency (including governmental discipline with internal financing, the rule of law
and the improvement of inclusive institutions); business efficiency (including
productivity and efficiency of the private sector and ease of access to finance), and
infrastructure (including those for science and technology, health, environmental
sustainability and education).