The Philippines’s average economic growth rate could slow further to between 4 and 5 percent in the next 10 years, according to a report released by Bain & Company and Monk’s Hill Ventures’ Angsana Council. Know more:
THE Philippines’s average economic growth rate could slow further to between 4 and 5 percent in the next 10 years, according to a report released by Bain & Company and Monk’s Hill Ventures’ Angsana Council.
The think tank said Philippine growth in the next 30 years is around 3.4 percent. This is the second lowest average growth in the Asean-5 for the period. “Looking back at the six leading economies in Southeast Asia, we see three broad outcomes in terms of GDP per capita: Vietnam outperforming; Malaysia, Indonesia, Thailand, and Singapore performing at about the same rate; and the Philippines underperforming,” the report stated.
These are the growing impact of tech-enabled entrepreneurs on investment, productivity and economic inclusion; and that SE Asia’s largest trading relationships are with China—as China grows, SE Asia grows. Pressure from TEDs is forcing traditional family-controlled or “national champions” to increase investment levels and accelerate innovation or face irrelevance in the coming decade.
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