PH joins Asean cellar dwellers, poll showsBy Ronnel W. Domingo
Philippine Daily Inquirer
Business owners in Southeast Asia consider the Philippines to be among the least developed and least attractive sites to do business in within the region.
Results of the 2011-2012 Asean Business Advisory Council (Abac) Survey on Asean Competitiveness showed that Vietnam had dislodged the Philippines from the group of five most attractive member-countries of the Association of Southeast Asian Nations.
The Philippines used to be part of what is called the Asean-5, or the nations considered to be the most attractive among business leaders in the region, which include Indonesia, Malaysia, Thailand and Singapore.
On the other end of the spectrum are those considered to be the less developed among Asean members—Cambodia, Laos, Burma (Myanmar) and even Brunei, which is rich in oil but has a small population.
The survey, conducted with the help of the Lee Kuan Yew School of Public Policy at the National University of Singapore, covered small, medium and large businesses. About 40 of the 405 respondents are from the Philippines.
Based on the poll, only 27 percent plan to invest or increase investments in the Philippines over the next three years. This puts the country in sixth place, with Indonesia at the top, garnering 50 percent. Brunei is at the bottom with 17 percent.
According to the business leaders, the Philippines’ biggest drawbacks are lack of infrastructure and the prevalence of corruption—which are, ironically, the main buzzwords of the Aquino administration.
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