Philippines on World Economic Forum's (WEF) Global Competitiveness Report

[MikeLigalig.com]

The Philippines is more competitive this year - for the first time in several years - according to the World Economic Forum's (WEF) Global Competitiveness Report (GCR) 2011-2012 released last week. The GCR itself and news reports noted an impressive increase in the Philippines' rank from 85 to 75, a 10-point jump. But it also acknowledged that much work remains to be done if the Philippines is to become truly and highly competitive.

Much of that work remains very fundamental. As I wrote last week, without a strong base, the Philippines cannot hope to attain its potential. While many celebrated the Philippines' improved ranking - understandably so - most overlooked the fact that the Philippines actually slipped a notch in basic requirements, which include the economic competitiveness. - Manila Bulletin