The Manila Times
April 16, 2016
Harold J. Raveché, Ph.D.
The Philippine archipelago has the potential to leap-frog economically with new governmental leadership and private sector commitment.
Often overlooked, the country has the potential to take its place among other strong Asian economies. But not without well-overdue reforms and a long-term strategy to grow the economy.
Manila is my base for business in South East Asia. I have spoken globally on entrepreneurship and innovation at private and public universities. I have also met with numerous business leaders as well as elected officials, while visiting cities from Davao and Cebu to Batangas and Loag.
My paternal grandfather immigrated to the US from the City of Cavite. The Philippine Island of Bataan is the crash site of my late Naval aviator father, who served during World War II.
When I visit the Philippines today, I feel the energy. From taxi drivers and shop owners, to professors, students and executives, there is a deep yearning for transformational change.
The cities, towns, provinces of the Philippines are transforming into Asia’s Fifth Tiger.
There is work to be done. World Bank 2016 data estimate that the Philippines’ $7,846 GDP per capita will be one-sixth of Taiwan’s, which is the lowest among the Four Tigers (Taiwan, along with Hong Kong, Singapore and South Korea).
Still, the economic infrastructure is real.