Corruption is a stumbling block to the Philippine foray into the global market as a manufacturer, but implementing serious reform in governance, building key infrastructure and solving its power shortage may transform the country into one of Asia’s growth leaders in the next few years, Deloitte Touche Tohmatsu Ltd. (Deloitte Global) said.

“The strong growth in global manufacturing to 2033 will drive world growth, and this presents the Philippines with great potential to integrate into the global supply chain of high-value manufacturing,” said Gary Coleman, Deloitte Global managing director for Global Clients and Industries.

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