The Netherlands ranks top in Europe in WEF global competitiveness index
09 Octobre, 2019, 14:29 | Auteur: Auguste Feret
The United States no longer ranks as the world's most competitive economy in the world, according to a new report published by the World Economic Forum on Tuesday.
Socioeconomic Planning Secretary Ernesto Pernia Jr said the government was taking steps to improve the Philippines' score, citing recent reforms such as the Ease of Doing Business Law.
Out of the 103 indicators for the report, Germany received lower scores in 53 areas this year. It placed 56th in the 2018 edition of the report.
Pernia said Manila would "do what is needed to recover and move further up".
The accessibility of fiber optic broadband internet access also "remains the privilege of the few", the report added.
According to a press release issued by Mishal Pakistan, the country partner institute of the Future of Economic Progress System Initiative, WEF, the report has adopted a new methodology for measuring competitiveness 4.0 by including indices which represent more knowledge and digital-based ecosystems.
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In its latest assessment of the factors behind productivity and long-term economic growth, the organization best-known for its annual gathering of the elites in the Swiss ski resort of Davos found Singapore overtaking the United States as the most competitive country, aided in no small part by its state-of-the-art infrastructure and strong cooperation between labor and management.
It did not explain the reasons behind the changes in scores year-on-year for the Philippines.
In particular, the Netherlands shares the lead for its macroeconomic stability and scores well on health and the quality of its infrastructure.
The Philippines' lowest rank was in the pillar of health at 102nd.
Singapore pushed the USA to second place to top the 2019 list, which has Hong Kong in third place. On the US, it noted growing uncertainty among business leaders and said trade openness has declined.
Indonesia scored highest in macroeconomic stability (under the "enabling environment" variable) at 90, earning it the 54th rank, as well as market size and business dynamism.
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