Tuesday, August 27, 2013

Philippines is most improved ASEAN nation according to U.S Firms Survey

Philippines, economy, business, manila

MANILA, Philippines- American firms and the ASEAN Business Outlook Survey of 2014 reported that the Philippines is the "most improved" country in the Association of Southeast Asian Nation (ASEAN).

The latest survey results shows the  U.S. firms confidence and satisfaction on the Philippines politics and business practices. U.S. firms drop their supposed corruption rate from 91 percent in 2003 to 59 percent as of today. Meanwhile, their adverse thoughts on the countries infrastructure also deteriorate to 55 percent from 69 percent within the same period of time.

The survey also showed that 87 percent of the total survey respondents seemed to be contented on the Philippine trained personnel’s availability.

“Highlight in the region is the marked improvement of the Philippines. The country has experienced high levels of growth recently and our survey shows why, as business leaders there indicate higher levels of satisfaction across almost all surveyed factors as compared to five years ago,” said Simon Kahn, chair of AmCham Singapore.

However, corruption, insufficient infrastructure and the tax structure continues to challenge the Philippines, based on the survey which is why Singapore remains on the top of the list.

“Singapore remains one of the most attractive countries in Asean to do business, with low levels of corruption, excellent infrastructure, and predictable laws and regulations,” said Kahn.

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