KPMG ranks Phl 18th in change readiness

MANILA, Philippines - The Philippines was ranked within the Top 20 in the world in terms of capacity to respond to change caused by shocks such as natural disasters, a new study by KPMG International and Oxford Economics showed.

The Philippines ranked 18th in KPMG’s 2013 Change Readiness Index (CRI) in terms of the ability of the government, private and public enterprises, people, and wider civil society – to anticipate, prepare for, manage, and respond to a wide range of change drivers, proactively cultivate the resulting opportunities, and mitigate any potential negative impacts.

This developed as the World Bank report has cited the Philippines, along with Colombia, as role models for the development of disaster risk management, in the face of increasing natural and man-made catastrophes.

Emmaneul Bonoan, chief operating officer of KPMG’s  Manabat Sanagustin & Co., said the Philippines is better prepared to capitalize on change amid its strong economic expansion.

“With the Philippine economy achieving strong growth in  recent years and one of the nations with the most improved rankings in the 2013 CRI, we are optimistic that the country is better prepared to capitalize on change,” Bonoan stressed.

 â€œWealth and high per capita income are closely correlated with change readiness, but income is not an insurmountable barrier to enhanced economic and social resilience,” Timothy A.A. Stiles, KPMG’s Global chair of International Development Assistance Services and a partner with KPMG in the US.

Stiles added that the CRI can be a vital tool for governments, the development community, and business to make more informed decisions, whether on potential reforms or policy changes, managing risks, or making investments.

KPMG is a global network of professional firms providing audit, tax and advisory services. Manabat Sanagustin & Co. is an affiliate of KPMG in the Philippines.

Aside from the Philippines, the other nations in the top CRI rankings were Singapore, Japan, Israel, the US, Chile, France, Thailand and Saudi Arabia.

The study brings fresh insight to the capacity of countries to respond to change, caused by shocks such as natural disasters or longer-term trends like technology, demographics, global competition, and investment.