The Philippines, under the leadership of President Benigno Aquino III and followed by Rodrigo Duterte, is slowly yet steadily emerging as a rising tiger, something that was highlighted by Motoo Konishi, World Bank Country Director, during the 2013 Philippines Development Forum.

Clean governance, strong leadership, growing infrastructure, and policy endeavors have catapulted the Philippines onto a path of faster growth. However, like all growing economies, the trickle-down effect has yet to gain full momentum, and social issues that stymie growth—poverty, inequality, and unemployment—need to be addressed in earnest. The future holds promise as the Philippines has a young, growing workforce that speaks English, has remittances from abroad that are high, and has household debt that is among the lowest in Asia.