According to Sushant Palakurthi Rao, WEF Senior Director and head of Asia, the Philippines will be able to showcase how it developed as it is set to host the World Economic Forum (WEF) on East Asia for the very first time May of this year.
Rao noted that the timing for the event could not have been better as the Philippine economy is currently in a very strong position. In fact, in Asia, the Philippines is the second fastest-growing economy next to China. A strong indication of the Philippine economy’s growth is the investment grade status it received last year, which is known to boost investor confidence. In addition to that, the country’s positive ranking in terms of global competitiveness makes it a premier investment destination.
Also, Rao explained that the country has set the benchmark for fighting corruption for its continuous and countless efforts for good governance.
Over 600 global leaders and business delegates are expected to attend the event. The participants will discuss key issues such as natural disasters, inclusive growth, unemployment, and other important issues that the region and the rest of the world deal with.