World Economic Forum president Børge Brende said despite the present challenges experienced by the Philippines in relation to the pandemic, the country remains in a good position for recovery if appropriate policies are put in place.
The country, for instance, still enjoys a tech-savvy, young population that can participate in the digital transformation of the economy if the right jobs are created.
The Philippines also has good economic relations with powerful economies in Asia such as China, Japan and South Korea; and maintains strong economic ties with the United States.
Brende said, “This year marks the entry into the Asian Century. This is the first time that Asia makes up 50 percent of the global GDP and global population.”
The biggest challenge in the country remains to be the attainment of sustainability and inclusivity of growth especially for the millions of young workers whose employment prospects were put on hold by the crisis.