2-Apr-07 10:00 AM EST

RP ranked 8th among countries with super-growth companies

A research conducted by accounting and consultancy firm Grant Thornton International shows Philippines is eight among the countries hosting companies with “super growth” status. Super growth companies are defined in the research as those firms that have grown “considerably more than the average measured against key indicators including turnover and employment.”

This year, US again tops the Super Growth Index with 44 percent of its companies reaching the super growth status. Armenia replaces India in the second rank while the latter dropped considerably to the 14th spot.

Philippines is considered as one of the “significant climbers” in the Super Growth Index moving from 23rd to the 8th rank. Other significant climbers are Russia, which moved from 29th to 18th rank; Argentina, which moved from 27th to 15th rank; and Italy, which moved from 30th to 21st rank.

It is “very interesting to see Russia and the Philippines jump from 29th to 18th and 23rd to 8th respectively,” said Alex MacBeath global leader of privately held business services for Grant Thornton International.

“Planning, productivity and good governance” explain the country’s good ranking in the Super Growth Index 2007, said President Gloria Macapagal-Arroyo in her keynote speech at the 26th Biennial Convention of the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII).

She also attributed the country’s high rankings to the continuous investments in the call center, business process outsourcing (BPO), and tourism industries.

Recently, Philippines has just been touted as the most favorable place for BPO, call center and IT-related investments in Asia. President Arroyo said Philippines has already found a niche in the world. “I have no doubt that the Filipino will prevail against all odds and against the politics of tearing down and destructionbuilding on the foundations of a new economy keyed to needs of the world and to the skills of our peopleas we shape a secure democratic future for peace, unity and security,” she added.