Read John Mangun’s article this morning and learned that the country rose 10 places in the World Economic Forum’s ranking to 75th. This despite the poverty level, corruption (PNoy is all talk and no walk on this), inefficient government bureaucracy, security issues (bus hostage-taking), inadequate infrastructure (where are the PPP projects promised by PNoy?), poor education, poor investor protection (NAIA3, PLDT foreign ownership), and the difficulty of starting a business. Personally, I think all these hostile factors contribute to leaving only the smartest and most resilient thus contributing to robust and sophisticated businesses. Supporting factors are good fiscal and monetary policy (BSP governor Tetangco got an “A” grade recently from a finance magazine), good banking industry, and a good stock market. That’s good news to start the day!
Full report here.