LAST year, the Philippine economy grew by 5.6 percent and this year the 6.0 percent barrier might be touched. This brings the country back to the top of the global league in gross domestic product (GDP) growth. For investors, this kind of achievement is always interesting.

The population in the Philippines is currently around 117.3 million, but the absolute size of the economy in a global comparison is still more modest. Its growth cannot move global economic growth, but for international investors it is interesting if the development is a bellwether for the whole Asean (Association of Southeast Asian Nations) region — that is, of regional size.