Forbes lists five ‘fail-proof’ engines of PHL economy

Forbes lists ‘five fail proof engines’ of Philippine economic growth. Ralph Jennings of Forbes described Philippines as “an icon of consumption-crazed Southeast Asia where wages are low and people eager for jobs with multinationals.”

Jennings listed: Corruption is down, Infrastructure madness, China Plus One, Outsourcing is in, Money keeps coming home as five engines why Philippine economy will continually grow.

“Since President Benigno Aquino III took office in 2010, transparency of government work is up and kickbacks down as people monitor one another, using social media for ratting some of the dirt out,” the writer explains of ‘corruption is down’.

The Philippine, just like other ASEAN countries, is urging multinational companies to do business in Philippines and “scrap plans for expanding factories in China,” the writer added.

However, there is one big spoiler. “The biggest spoiler is violence in Mindanao,” Jennings wrote.