PH back in competition

Philippines’ competitiveness rebounds in 2019 — IMD

Ian Nicolas Cigaral
Philippine Star
29 May 2019

MANILA, Philippines — The Philippines’ competitiveness improved in 2019 on the back of rosy economic performance last year and higher labor force, according to a research group of Switzerland-based business school International Institute for Management Development.

This Dec. 20, 2018 photo shows workers cleaning a panel of the building in UN Avenue, Manila. 

The Philippines’ competitiveness improved this year on the back of rosy economic performance 

last year and higher labor force, according to a research group of Switzerland-based business school International Institute for Management Development.The STAR/Krizjohn Rosales

The Philippines ranked 46th out of 63 economies tracked in IMD’s 2019 competitiveness report. This was higher than the Southeast Asian country’s previous ranking of 50th place in 2018.

Among 14 Asia-Pacific countries covered by the report, the Philippines placed at the 13th spot this year, unchanged from last year and just ahead of Mongolia and right behind India.

“This result was driven by a solid economic performance supported by sustained real [gross domestic product] growth (6.2% in 2018) and an increase in labour force and employment levels,” IMD said.

For its report, IMD said it evaluated “the extent to which a country fosters an environment where enterprises can achieve sustainable growth, generate jobs and, ultimately, increase welfare for its citizens.”

IMD looked into four factors — economic performance, infrastructure, government efficiency and business efficiency — in giving a final score for each country.

Broken down, the Philippines improved in the economic performance factor, placing 38th this year from 50th previously despite a decline in the international trade sub-factor. In terms of government efficiency, the Philippines climbed to 41th spot from 44th on the back of better institutional framework, business legislation and societal framework.

Under the business efficiency factor, the Philippines ranked 32nd from 38th mainly driven by better labor market and “attitudes and values.” Lastly, the Philippines jumped to 59th place from 60th in the infrastructure factor.

According to IMD, the Philippines needs to “speed up and sustain investments in physical infrastructure” and “sustain investor and consumer confidence.”

IMD then flagged the country’s “inadequate investment in human capital, poor digital competitiveness and future-readiness and persistent political risks.”

The rankings have been produced every year since 1989 by the IMD World Competitiveness Center.

This year, Singapore ranked as the world’s most competitive economy for the first time since 2010, knocking out the United States from the top spot to 3rd place amid higher fuel prices, weaker hi-tech exports and fluctuations in the value of the dollar.

Hong Kong held on to 2nd place, helped by a benign tax and business policy environment and access to business finance. Meanwhile, competitiveness across Europe struggled to gain ground this with most economies on the decline amid economic uncertainties.

“In a year of high uncertainty in global markets due to rapid changes in the international political landscape as well as trade relations, the quality of institutions seem to be the unifying element for increasing prosperity,” said IMD professor Arturo Bris.

“A strong institutional framework provides the stability for business to invest and innovate, ensuring a higher quality of life for citizens,” Bris added.

First Filipino in Arab fashion Week

Maymay Entrata officially first Filipino to walk in Arab Fashion Week

Gianna Llanes
Philippine Canadian Inquirer
15 November 2018

“It’s official! CONGRATULATIONS to Maymay on officially being a part of Arab Fashion Council ARAB FASHION WEEK 2018!” (Photo: @amatoofficial/Instagram)

Most known for her victory in Pinoy Big Brother’s (PBB’s) Lucky 7 Edition, 21-year-old Maymay Entrata captures the attention of international designers as she is now the first Filipina model to be a part of the prestigious event.

Arab brand Amato Couture, founded by Filipino Furne One, initiated the invite, aware that Maymay and on-screen partner Edward Barber have a show in the country within that date. On November 15, the brand announced through their Instagram, “It’s official! Congratulations to Maymay on officially being a part of Arab Fashion Council Arab Fashion Week 2018!” The show is happening on Wednesday, November 21.

Maymay has encountered wearing Furne One’s designs before, with the designer based in Dubai previously dressing Maymay during the 2018 ABS-CBN Ball that happened last October 1.

It is reported that renowned fashion designer Rajo Laurel is planning to include Maymay in his Dubai show as well after tweeting, “How can we make Maymay Entrata walk my Gala Fashion show?” referring to his Red Charity Gala held last October 29.

Prior to the invite, Maymay has already initiated that becoming a model was always one of her dreams and is willing to be trained to do it professionally. She told TV Patrol in Filipino, “It’s in my dreams to become a model. That’s in the right timing,” adding, “I learned [how to runway walk] through YouTube from professional models. I just imagine that I’m beautiful.” Just a few months ago, “America’s Next Top Model” host Tyra Banks had praised Maymay’s look, liking her catwalk videos and photos on social media.

WEF Philippine Ranking 2018

Philippines and India rise in global competitiveness

World Economic Forum evaluates improvements in infrastructure and innovation

ERI SUGIURA,

Nikkei staff writer 

October 17, 2018

The Philippines moved up 12 rungs to 56th place in World Economic Forum's The Global Competitiveness Index 4.0.    © Reuters

TOKYO -- The World Economic Forum's latest global competitiveness list shows a positive picture in Asia, with the Philippines and India moving up the ranks.

The Global Competitiveness Report 2018, published on Wednesday, showed the Philippines rising 12 rungs from last year to 56th of a total of 140 countries and regions, based on a new methodology applied to both years. India also rose five places to 58th, making the largest gain among G-20 economies.

WEF used a new methodology in its latest edition to include elements that determine productivity. Of the 98 indicators, 34 were retained from the previous methodology while the other 64 indicators are new, resulting in new updated list for 2017.

Economic growth in the Philippines exceeded 6%, along with China, Cambodia and two other countries in Southeast Asia. The WEF also noted that the country's safety improved over the year, with scores in indicators including organized crime, homicide rate and incidence of corruption rising.

It ranked 21st in social capital.

The country's infrastructure such as airport and shipping connectivity improved as well. On the other hand, the Philippines still needs to enhance education, its product market as well as its workforce, the report shows.

India was ranked 8th in "quality of research institutions." The Geneva-based WEF highly evaluates the country noting "a remarkable example of a country that has been able to accelerate on the pathway to innovation, due, particularly, to the quality of its research institutions."

The ease of doing business in India has also improved. The cost of starting a business has come down and time to start a business has shortened over the year. The report expects further improvements in India's health sector which ranks 108th and skills sector which stands at 96th.

Singapore topped the Asian chart and was second globally behind the U.S. The report says the "openness [of the city-state] is the defining feature of this global trading hub and one of the main drivers of its economic success." Its infrastructure, health and product markets also topped the ranks.

Japan rose three places to 5th. It is the most improved of the top 10 countries and regions, ranking first in health, digital and physical infrastructures.

Japan is one of the region's key innovation hubs along with South Korea and Taiwan. However, the report said they "could improve on the so-called 'softer' drivers of innovation to attain the level of 'super innovators,'" such as Germany, the U.S. and Switzerland, as Japan scores fairly low on risk aversion, meaning not taking enough risks, and critical thinking. Japan has also room to improve its levels of social capital and corporate governance.

China kept its ranking at 28th, Hong Kong came in 7th overall and third in Asia. It is comparable to Singapore but the report noted that it scored "slightly less well in terms of innovation and labor market efficiency." Its sea port infrastructure and connectivity ranked first, while ICT adoption and financial system had high scores as well.

Taiwan also remained in the same ranks at 13th, while its macroeconomic stability scored it at 100. Its innovation capability was at 4th place, with abundant international co-inventions and cluster development.

South Korea rose up to 15th place, up two rungs compared with the 2017 edition, thanks to its leading position in ICT adoption. Its R & D expenditure is the second highest after Israel, at the equivalent of 4.2% of its gross domestic product. The report suggests the country can improve in entrepreneurial risk-taking and employee empowerment.

Malaysia, Thailand and Indonesia all rose in their ranks but Vietnam fell three places to 77th.