Achieving upper-middle income status requires growth, investment

Recent analysis suggesting a possible entry of the country into upper-middle income status within the next few years is a good thing that we should look forward to. Already, it has spawned discussions on comparisons with other countries in the same race for uppermiddle income status.

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I believe that achieving such a status will demand our adherence to a long-term vision such as Ambisyon Natin 2040, formulated in 2015 by the then National Economic Development Authority (now the Department of Planning and Development). This ought to be the guiding framework under which our efforts to achieve upper-middle income status should be pushed.

For emphasis, let me reprise my Sept. 15, 2024 column on the plan: “Tt is clear that Ambisyon Natin 2040 also serves to guide the formulation of policies, legislation, and development plans for 25 years after its inception. I, therefore, believe that this should also be the banner under which we in the regions can formulate proposed policies and plans for our local economies and measure their effectiveness and attainment.