A demographic “sweet spot” remains an edge for the Philippines amid a challenging external environment, an International Monetary Fund (IMF) official said.
“The demographic dividend has been an important aspect of Philippines competitive advantage,” IMF Resident Representative Dr. Shanaka Jayanath Peiris told The Manila Times at the sidelines of a forum staged by the paper.
Peiris said the Philippines’ distinct advantage was its young and huge population when compared to its regional peers.
“As labor cost in China and even in other parts of Asia is rising, the Philippines can be competitive if it continues to invest in its people especially in health and education,” he said.
Peiris also pointed out that addressing skills mismatches could also encourage more employment from both foreign and domestic investments. MAYVELIN U. CARABALLO