The Philippines has been named the third best country in the world for investment or for doing business in 2019, according to CEOWORLD magazine. The other top five countries are Malaysia in first place, Poland in second, Indonesia in fourth, and Australia in fifth. The rankings were based on 11 factors including corruption, personal, trade and monetary freedom, workforce, investor protection, infrastructure, taxes, quality of life, red tape and technological readiness. Each factor was classified under the categories of economic stability, government policies, skilled labor force, institutional framework, education and research, market potential and trade openness.
The Philippines took the first spot in skilled labor force and institutional framework, and tied eighth in economic stability. It tied 15th in both government policies and in education and research, while also tying 22nd in market potential and 10th in trade openness. It tied with the US in labor force, and with Turkey and Saudi Arabia in institutional framework. Singapore, India, Czech Republic, Spain and Thailand were ranked from the sixth to 10th, respectively, out of a total of 67 countries.