WEF to focus on inclusive growth

MANILA, Philippines - The World Economic Forum (WEF) which will be held in Manila in May will be threshing out global and regional challenges centered on equitable progress, sustainability, and connectivity.

Under the three broad themes, Sushant Palakurthi Rao, WEF’s senior director and head of Southeast Asia, said the forum will have a broad range of sessions such as achieving inclusive economic growth, recognizing natural disruptions, and filling in the needed infrastructure in a bid to link economies.

The 23rd World Economic Forum on East Asia will be held on May 21 to 23 in Manila. The Philippines will be the fifth Association of the Southeast Asian Nations member to host the event after Vietnam, Indonesia, Thailand and Myanmar.

“What we’re doing here is we’re taking some of the key outcomes, key issues, key concerns and priorities expressed in our recent annual meeting in January in Davos (Switzerland) and putting this under the lens of the region,” Rao said.

“This is because the views and approaches to challenges may differ from one part of the world to another,” he continued.

These challenges include economic recovery, youth and employment, climate change and natural disasters, health, and inclusive growth.

Issues specific to the region, meanwhile, will include those surrounding the launch of the 2015 Association of Southeast Asian Nations (ASEAN) Economic Community.

“And because we are in the Philippines for the first time, of course, we will also look at some of the issues that are most relevant to the Philippines,” Rao said.

“We feel the timing to be in the Philippines to be superb and that’s linked to the very strong economic performance of the country. The Philippines has become the benchmark for many other countries in the world for good governance and anti-corruption [efforts],” Rao said.

He said the Philippines in the past three years has been one of the most improved globally in the WEF’s annual survey on competitiveness. The country has also ranked high in relation with other Asian economies with relation to gender gap and equality.

WEF expects to welcome more than 600 delegates including nation and business leaders, as well as heads of civil society organizations.