PH is ‘best country to invest in’: US News
A US-based publisher recently gave the title “Best Country to Invest In” to the Philippines.
MAKATI CITY acts as the center of trade in the Philippines./Photo Andrew Del Rosario
US News, a multi-platform publisher of rankings such as “Best Colleges,” “Best Graduate Schools,” and “Best Hospitals” recently came out with an article saying the Philippines is the best country to invest in, placing it ahead of Indonesia, Poland, Malaysia, and Singapore.
They cited the 60% increase in foreign direct investment (FDI), amounting to US$8 billion in 2016, as one of the reasons why the country is the best to invest in.
“In years to come, the country is expected to receive more FDI from regional powerhouses like China that are looking to utilize available labor in developing nations,” the report said.
Finance Secretary Carlos Dominguez, who first broke the news to local media, attributed the rank to a “young and hardworking workforce, an excellent inclusive growth momentum, an expanding middle class, politically stable environment, strong and popular leadership, fiscal discipline, stable monetary policy, membership in ASEAN, an achievable infrastructure program, a strong anti-corruption drive, and improved revenue collection” according to an article published in the Philippine Daily Inquirer.
Using factors from a World Bank report, US News took scores from “more than 6,000 business decision makers on a compilation of eight equally weighted country attributes: corruption, dynamism, economic stability, entrepreneurship, favorable tax environment, innovation, skilled labor force, and technological expertise.”
US News used criteria developed by The Wharton School of the University of Pennsylvania and Y&R’s BAV Group.
Source: Philippine Daily Inquirer, ABS-CBN News, United Nations Conference on Trade and Development, US News, BusinessWorld
