EDITORIAL — Left behind
Monday, November 5, 2007 - PHILSTAR.COM
The Philippines has inched up in global competitiveness, according to the World Economic Forum. Still, being ranked 71st among 131 countries in the annual WEF Global Competitiveness Report is not much to crow about, especially when the country is rated behind its Southeast Asian neighbors.
Never mind perennial economic achiever Singapore, which might be unhappy with its ranking at seventh place in the Global Competitiveness Index, ahead of Japan and the United Kingdom. Malaysia’s ranking at 21st place was no surprise either; that country left us behind years ago. What should be cause for concern is that the Philippines was rated too far behind Thailand, which placed 28th despite violence and political instability since last year. The Philippines was rated behind even Indonesia, which ranked 54th. Most worrisome of all was that Vietnam was ranked ahead of the Philippines, at 68th place.
The Global Competitiveness Index is based on the quality of infrastructure and institutions, macroeconomic stability, health and primary education, higher education and training, efficiency of the goods and labor markets, sophistication of the financial market, technological readiness, market size, business sophistication and innovation. Some 11,000 business leaders in 131 countries were polled, and their rating for the Philippines is not surprising.
The Philippines placed 55th in business sophistication, 62nd in higher education and training and 64th in goods market efficiency. The United States, with its excellent educational and research institutions and technological innovation, was rated the world’s most competitive country, followed by Switzerland, Denmark, Sweden, Germany and Finland, with Chad getting the lowest rating. Last year the Philippines ranked 77th among 117 countries in the GCI.
Local and foreign business groups alike have long expressed concern over the Philippines’ slipping global competitiveness. They have also pointed out the many factors that must be addressed to stop the slide. So far, many of the key concerns have not been addressed. Institutions remain weak. Infrastructure is inadequate, and almost every big-ticket
infrastructure project becomes bogged down in a corruption scandal. The country now faces a crisis in public health care. Education is a disaster, and there is minimal investment in research and technological innovation. Unless dramatic steps are taken soon, the country will see itself being left farther behind by its neighbors.
The Philippines has inched up in global competitiveness, according to the World Economic Forum. Still, being ranked 71st among 131 countries in the annual WEF Global Competitiveness Report is not much to crow about, especially when the country is rated behind its Southeast Asian neighbors.
Never mind perennial economic achiever Singapore, which might be unhappy with its ranking at seventh place in the Global Competitiveness Index, ahead of Japan and the United Kingdom. Malaysia’s ranking at 21st place was no surprise either; that country left us behind years ago. What should be cause for concern is that the Philippines was rated too far behind Thailand, which placed 28th despite violence and political instability since last year. The Philippines was rated behind even Indonesia, which ranked 54th. Most worrisome of all was that Vietnam was ranked ahead of the Philippines, at 68th place.
The Global Competitiveness Index is based on the quality of infrastructure and institutions, macroeconomic stability, health and primary education, higher education and training, efficiency of the goods and labor markets, sophistication of the financial market, technological readiness, market size, business sophistication and innovation. Some 11,000 business leaders in 131 countries were polled, and their rating for the Philippines is not surprising.
The Philippines placed 55th in business sophistication, 62nd in higher education and training and 64th in goods market efficiency. The United States, with its excellent educational and research institutions and technological innovation, was rated the world’s most competitive country, followed by Switzerland, Denmark, Sweden, Germany and Finland, with Chad getting the lowest rating. Last year the Philippines ranked 77th among 117 countries in the GCI.
Local and foreign business groups alike have long expressed concern over the Philippines’ slipping global competitiveness. They have also pointed out the many factors that must be addressed to stop the slide. So far, many of the key concerns have not been addressed. Institutions remain weak. Infrastructure is inadequate, and almost every big-ticket
infrastructure project becomes bogged down in a corruption scandal. The country now faces a crisis in public health care. Education is a disaster, and there is minimal investment in research and technological innovation. Unless dramatic steps are taken soon, the country will see itself being left farther behind by its neighbors.
posted by Admin at 7:57 PM
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