The Philippines was ranked as the 7th best country in the world to invest in or do business in post-coronavirus disease for this year, according to CEOWORLD magazine.
The country scored high in terms of constitutional framework (94.9), education and research (94.8), market potential (92.8) and trade openness (91.3).
Economic stability (69.8), skilled labor force (64.61), and government policies (62.54) were also hi
“Described as being the tech hub of Asia, the nation (Philippines) scored the seventh best place for business people,” CEOWORLD said.
Survey results published last February showed that Manila fell four notches to 7th place from 3rd last year.
The country got an overall score of 81.5, lower than 84.6 last year.
Singapore topped the list of most attractive nations for investors and business people followed by the UK, Poland, Indonesia, and India.
Australia was in 6th place followed by the Philippines, the US, Malaysia, and Czech Republic.
The study analyzed 80 countries according to business and investment environments and took factors such as corruption, freedom, workforce, investor protection, infrastructure, taxes, quality of life, red tape and technological readiness into consideration.
The government has repeatedly attributed the country’s investor ranking to its hard-working workforce, inclusive growth momentum, stable monetary policy, strong anti-corruption drive, and an ambitious “Build, Build, Build” infrastructure program.
President Duterte has also assured that the country remains a safe place to invest in, vowing to ensure ease of doing business by fighting red tape and corruption.
The President asked businessmen to immediately report to his office any bribery attempt or irregularity hounding their investments in the country.
CEOWORLD ranks the world based on a variety of categories ranging from the world’s richest people to the top companies, top executives.