MANILA, Philippines—The Philippines has a fresh opportunity to be Asia’s next tiger economy, potentially regaining the glory lost decades ago, according to a visiting regional business leader from Brunei. Dato Timothy Ong, a leading Brunei businessman who founded and now chairs regional dialogue platform Asia Inc. Forum, said in a press briefing on Monday that he has seen signs that the Philippines could revisit its goal of being the next Asian tiger despite staying at the bottom half of the 10-member Association...
...For Ong, the Philippines can join the ranks of Taiwan, Singapore, South Korea and Hong Kong, the so-called Asian “tiger” economies or newly industrializing countries. He cited five reasons why the country, though a “dark horse,” had the makings of the next “tiger.”
In a nutshell, Ong's 5 reasons the Philippines will rise to the top are:
- President Aquino's promise to weed out corruption in the Philippines.
- The Philippines vast pool of hardworking and skilled manpower. Especially those based overseas.
- The Philippines' "centers of excellence". These are the business centers all around the city that mirrors first world quality like the Makati Central Business District.
- Homegrown companies such as Jollibee Foods Corp, The Ayala Group of Companies, and the International Container Terminal Services, Inc. These Philippine homegrown companies are at par with the world's best.
- The Philippines sharply improving competitiveness. Proof of this is the 10point jump from 75 to 85 in the latest ranking of the World Economic Forum.
Not only can we be proud of our beautiful country, we can look forward to a prosperous one in the near future.