Much potential is seen in the Philippines business sphere as the country has been ranked number one in the “Best Countries to Invest in” list by U.S. News.
This was released as part of the organization’s Best Countries project released February, according to Business Insider, done in partnership with Y&R’s BAV Group and Wharton School of the University of Pennsylvania, noted Inquirer.net.
According to the U.S. News’ rankings website, the countries to be included in the “Best Countries to Invest in” list were determined “based on scores primarily from more than 6,000 business decision makers on a compilation of eight equally weighted country attributes: corrupt, dynamic, economically stable, entrepreneurial, favorable tax environment, innovative, skilled labor force and technological expertise”.
An Inquirer.net article said that Finance Secretary Carlos G. Dominguez III credited this feat to “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”.
The Philippines is followed by Indonesia in second place, Poland in third, Malaysia fourth, and Singapore in fifth place.
Meanwhile, the country placed 49th in the overall Best Countries list, with Switzerland leading, reported ABS-CBN News.
The project’s rankings “evaluate 80 countries across 24 rankings drawn from a survey of more than 21,000 global citizens, measuring 75 dimensions that have the potential to drive trade, travel and investment and directly affect national economies”, according to U.S. News.
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