Ronnel W. Domingo
Philippine Daily Inquirer
The Philippines is expected to remain the most promising economy in Southeast Asia as the country performs better than the regional average, according to UBS Securities.
The financial services firm said in a new report that the Association of Southeast Asian Nations appeared to operate in a “different dynamic” as efforts to build a single economy progressed.
However, UBS noted that the Asean remained economically diverse—both in terms of size and level of development—even as it represented a population of some 600 million and a gross domestic product that was three-fifths that of Germany.
“Of the larger economies, we think the Philippines will continue to prove to be the most surprisingly impressive,” UBS said, citing analysis from economist Edward Teather.