Manila climbs in financial centers list

(Still remains the laggard in the region)

The Philippine capital rose six places to 103^rd out of 119 global financial centers in the 37^th edition of the biannual Global Financial Centers Index (GFCI) by London-based think tank Z/Yen. The GFCI evaluates the future competitiveness of financial centers and is used as a reference for policy and investment decision makers. Manila’s GFCI rating went up by 33 points to 649, however, it was the lowest rating among its peers in the East and Southeast Asian region. In a separate assessment of financial technology (fintech) centers, Manila went up seven places to 93rd out of 115 financial centers.