MANILA, Philippines – The World Economic Forum (WEF) lauded the Philippine government in its reform initiatives, saying the country has been a “benchmark” for other governments.
Sushant Palakurthi Rao, the senior director and head of Southeast Asia at the WEF, highlighted the Philippines’ success stories in good governance and robust economic growth.
“The Philippines has demonstrated to the world its capabilities and can serve as a very good example,” Rao said on Thursday.
“The Philippines is one of the greatest economic comeback stories in the recent years. The Philippines is expected to be the strongest performing Southeast Asian economy in 2014, with gross domestic product growth supposing 6.5 percent,” he added.
The 3-day WEF on East Asia meeting will be held in Manila in May 2014 and is expected to draw the world’s most powerful people, including business and state leaders, heads of civil society organizations, labor unions, and other non-government organizations.
Rao said the WEF meeting will focus on achieving equitable progress, advancing models for sustainable growth and realizing regional connectivity.
The meeting will also discuss global issues including unemployment, environment, economic recovery, health, and inclusive growth.
The Philippines is the fifth ASEAN member-country to host the WEF meeting after Vietnam, Indonesia, Thailand and Myanmar.