The Philippines landed as the third best country in the world to invest in or do business for 2019, this according to the CEOWORLD magazine. It came after Malaysia in first place and Poland which took silver. Indonesia (No. 4) and Australia (No. 5) completed the top five among 67 countries.
The rankings were based on a survey and statistical data on 11 different factors including corruption, freedom (personal, trade, and monetary), workforce, investor protection, infrastructure, taxes, quality of life, red tape, and technological readiness. Each factor was equally weighted and classified under the general categories of Economic Stability, Government Policies, Skilled Labour Force, Institutional Framework, Education and Research, Market Potential, and Trade Openness.
The Philippines ranked first in Skilled Labour Force (85 points) and Institutional Framework (85 points). It tied at 8th in Economic Stability (78pts), tied at 15th in Government Policies (70 points), tied at 15th for Education and Research (68 points), tied for 22nd for Market Potential (60 points), and tied for 10th for Trade Openness (73pts). The country received the same score as the US in Labour Force. She also tied Turkey and Saudi Arabia in the Institutional Framework.
It is worth noting that Singapore placed 6th and Thailand made it to 10th place. Malaysia, Philippines, Indonesia, Singapore and Thailand are the founding members of the Association of South East Asian Nations (ASEAN) and they all ranked in the top ten. The ASEAN endeavors to form a single economy along with the rest of its members — Brunei, Vietnam, Cambodia, Myanmar and Laos.
India, Czech Republic, Spain complete the top ten. The United Kingdom, the United States, China, and Japan ranked 16th, 18th, 24th, and 32nd, respectively, among the world’s best countries to invest in or do business for 2019.
By Dennis Legaspi