Philippines’ ranking unchanged in 2018 Global Innovation index
MANILA, Philippines — The Philippines has retained its ranking in the 2018 Global Innovation index, as the country continues to reel on certain weaknesses despite its strengths.
Out of 126 economies, the Philippines ranked 73rd in the report, unchanged from last year. The Global Innovation Index 2018 is co-sponsored by the U.N. World Intellectual Property Organization.
According to the report, the Philippines’ performance was weak in the areas of investment, political stability and safety, ease of starting a business and expenditure on education, among others.
Meanwhile, among the Southeast Asian country’s strengths were trade, competition and market scale, as well as knowledge absorption.
Overall, Switzerland was kept in the No. 1 spot, followed by the Netherlands, Sweden, United Kingdom and Singapore.
The United States fell from fourth in 2017 to sixth this year, while China jumped from 22nd to 17th. — Ian Nicolas Cigaral
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