A REFLECTION of positive image. That, in a nutshell, is the overall picture painted of the Philippines being ranked as the fourth most optimistic country among 36 economies in a survey conducted by the Grant Thornton International Business Report.
The passage of the Tax Reform for Acceleration and Inclusion (TRAIN), as well as some forms of destabilization moves by some quarters, did not have much effect on the investors’ business confidence.
Instead, the optimism level among business leaders even went up and hit an average of 86%, which was higher than the global average of 58%.
Indonesia topped the survey with 100%, followed by Finland with 94% and Netherlands at 92%.
According to Thornton, the survey results showed that businesses had been very confident about the economy, considered as one fastest-growing, if not the fastest, in Asia.
Local businesses expected an increase in employment, given that high level of optimism, it said. Indeed, the latest survey certainly reflected the positive image the Philippines had generated here and abroad as the government continued to institute reforms.