|Regional Competitiveness Summit 2014|
Meanwhile, Makati City is the most competitive city, followed by Cagayan de Oro and Naga City.
Awards were also given to cities and municipalities that are competitive in terms of particular factors, such as government efficiency, infrastructure, and economic dynamism.
Naga was given an award for being the top-performing city in terms of government efficiency. Meanwhile, Daet was recognized as the most competitive municipality in terms of infrastructure.
The other top cities and municipalities include Iloilo, Angeles, Davao, Cagayan de Oro, Marikina, Tanza, General Trias, San Pedro, Kalibo, Tupi, San Mateo, Rodriguez, and Paniqui.
Polangui in Albay also made it to the top 15 municipalities.
The results highlight the importance of being competitive in several factors, especially those which are closely examined by potential investors, the National Competitiveness Council explained.
This year, 136 cities and 399 municipalities were included in the search, up from 122 cities and 163 municipalities in 2013.
The CMCI was developed by the NCC through the Regional Competitiveness Committees (RCCs) with the assistance of the INVEST Project of USAID. City and municipality data used in the CMCI were voluntarily submitted by the RCCs.
Economic Dynamism scores were based on data on the size and growth of the local economy as measured by business registrations, capital, revenues, and occupancy permits; capacity to generate employment; cost of living; cost of doing business; financial deepening; productivity; and presence of business and professional organizations. Government Efficiency scores were based on data on transparency scores, economic governance scores, local taxes and revenues, local competition-related awards, business registration efficiency, investment promotion, compliance to national directives, security, health, and education. Infrastructure scores were based on data on existing road network, distance from city/municipality center to major ports, Department of Tourism-accredited accommodations, health infrastructure, education infrastructure, basic utilities, infrastructure investments, ICT connection, ATMs, and public transportation. –With report from NCC, BICOLSTANDARD.COM
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