The Philippine business environment has improved substantially in 2012 after the Aquino Administration launched a serious campaign against graft and corruption in 2010. The Philippines moved up another 10 notches in the Global Competitiveness Report from 75 in 2011 to 65 out of 144 countries this year (in 2010 the Philippines ranked 85), while corruption, inefficient government bureaucracy, and inadequate infrastructure still remain the top three problematic factors for doing business in the country. The Philippine economy expanded 5.9% in the 2nd quarter of the year, weaker than the revised 6.3% recorded in the first three months; there is no doubt that the country will finish strong in 2012 and belong to the high economic performers this year.
