The world sees the Philippines as one of the greatest growth opportunities, and many things have been going well
According to Richard Mills, the Chairman of Asia CEO Awards, the Philippines is in an advantageous position for growth and should make efforts to capitalize on this opportunity. Mills highlighted that Southeast Asia, including Vietnam, Indonesia, and the Philippines, is attracting businesses due to its young workforce. He emphasized the responsibility of all stakeholders in making the Philippines a better country.
Mills noted that the Philippines is currently experiencing a promising era of growth. The global shift towards hybrid work setups and increased online usage has made Filipinos highly sought after, with many international clients expressing a desire to do business in the country.
Certain sectors, such as the IT-BPO (Information Technology-Business Process Outsourcing) industry and real estate, are thriving and actively seeking talent. The Philippines is widely regarded as an excellent destination for BPO services, with employers worldwide appreciating the skills and global income potential of Filipino workers. Additionally, the real estate sector, encompassing office spaces, residential properties, and tourism-related developments, is experiencing significant growth.
However, Mills acknowledged that the manufacturing sector faces challenges, as China and Vietnam have established themselves in that area. He stressed the importance of Filipino proficiency in international English communication skills, which contributes to their advantage in the BPO industry.
When asked about improving competitiveness, Mills suggested addressing long-standing investor concerns, such as bureaucratic red tape. While acknowledging the progress made in infrastructure development under the Duterte administration, he emphasized the need to reduce red tape, which is a prevalent issue globally.
In summary, Richard Mills believes that the Philippines is in a favorable position for growth and urges the country to seize the opportunity. He emphasizes the attractiveness of the young workforce in Southeast Asia and the desirability of the Filipino talent pool in industries like IT-BPO and real estate. Mills also suggests addressing issues like red tape to enhance the country's competitiveness.
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