The Philippine National Competitiveness Council (NCC) plans to issue an optimistic report this month, citing progress in this year’s good governance and transparency efforts.
The report will identify macroeconomic gains and improved trust in public institutions as positive accomplishments this year, while noting weak attempts to upgrade infrastructure.
The NCC has also acknowledged that the Philippine government must move beyond trimming red tape if the country is to improve its global competitiveness ranking.
The International Finance Corp.’s (IFC) most recent “Doing Business” report commends the Philippines for a number of positive actions this year including passing the Financial Rehabilitation and Insolvency Act, but it has the Philippines falling two places to 136th out of 183 economies.
The NCC is targeting a top 30 to 50 placing for the Philippines by 2016.
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