Infra, education key to realize PH growth potential

MANILA — Accelerating investment in education and infrastructure could boost the Philippines’ economic growth and realize its full potential.

Edwin Bautista, president and chief executive officer at UnionBank of the Philippines, cited result of an earlier study released by professional services firm PricewaterhouseCoopers (PwC) indicating the Philippines could become the 20th largest economy by 2050 among 32 countries.

PwC forecasts the Philippine gross domestic product outpacing even that of Spain, Australia, Colombia, Argentina, Poland, and the Netherlands.

Bautista also noted a World Bank (WB) study ranking the Philippines among the top five in terms of productivity index and growth potential index.

“So the opportunities are there, the potential is there, how can we realize that potential? It all boils down to infrastructure and medium-term education,” he said during the Philippines Investment Forum Monday organized by Euromoney.

Bautista said the country also needs to scale up investments, particularly in infrastructure.

“There is still a lot of room to grow, that is why it is correct the government is embarking on Build, Build, Build because that’s the missing link,” he added.

Richard Bolt, Asian Development Bank Philippines Country Director, said apart from focus on infrastructure, the country should increase investment activity all over the country. (PNA)

Popular

Taal Lake site assessment yields sack containing ‘bones’ — DOJ

By Brian Campued The Department of Justice (DOJ) confirmed that authorities retrieved a sack containing burned remains believed to be human bones during the initial...

LTO integrates online driver’s license renewal system in eGovPH app

By Dean Aubrey Caratiquet The Land Transportation Office (LTO) has integrated the online driver’s license renewal in the eGovPH app, which ensures a fast and...

5 of 21 Filipinos in Houthi-hit ship in Red Sea rescued — DFA

By Joyce Ann L. Rocamora and Marita Moaje | Philippine News Agency Five of the 21 Filipino seafarers manning the cargo vessel Eternity C, which...

PBBM directs gov’t officials: Focus on work, avoid politicking

By Dean Aubrey Caratiquet At the Malacañang press briefing this Wednesday, July 9, Presidential Communications Office (PCO) Undersecretary and Palace Press officer Claire Castro reiterated...