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GMA pooh-poohs 'poor' investment report on RP.
(From Philippine Daily Inquirer)
Byline: Gil C. Cabacungan Jr.
PRESIDENT Macapagal-Arroyo has dismissed as "old news" another international assessment of the Philippines which gave the country a poor rating.
"This is recycled news. We do not need international rankings to teach us or prod us on good governance," said Ms Macapagal in a statement.
The Philippines fared poorly as an investment site in the latest Global Competitiveness Report of the World Economic Forum due to widespread corruption.
The report showed the Philippines slipped from number 63 to 66 in the growth competitive index (it was second to last among Asean countries, ahead only of Indonesia) and tumbled from number 61 to 64 in the business competitiveness index (it was dead last among Asean countries). Asean is the Association of South East Asian Nations comprising 10 countries in the region, including Malaysia, Singapore and Thailand.
The report, which ranked 102 countries based on a poll of business leaders worldwide, noted that 22 percent of the respondents felt that corruption was the biggest problem about doing business in the ...
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