After “more than two decades” of trade liberalization, rapid industrial growth continues to elude the Philippines, according to state think tank Philippine Institute for Development Studies (PIDS). The institution is now urging the government to implement reforms that will enhance the country`s productivity, promote relationships between small and medium enterprises (SMEs) and large domestic and multinational companies, and generate more investments. The reforms will enable the country to capitalize on the rapidly changing global conditions where emerging economies like the Philippines are becoming key players, as the United States, the European Union, and Japan continue to face slower growth, said PIDS senior research fellow Rafaelita Aldaba.
