The Manila Times will bring together government officials, economists and business leaders for its 128th Anniversary Business Forum, “Beyond UMIC: Locking in on Sustainable, Equitable Growth,” to examine how the country can sustain its transition to upper-middle-income status and translate economic gains into better jobs and broader prosperity.
A key speaker is Zafer Mustafaoglu, World Bank division director for the Philippines, Malaysia and Brunei Darussalam, who has been closely involved in the World Bank’s engagement with the Philippines as it reached the upper-middle-income country (UMIC) threshold.
Mustafaoglu spoke at the Aug. 3 launch of the World Bank’s Philippines Economic Update Midyear 2026, which examined the implications of the country’s new classification and the reforms needed to sustain growth, strengthen competitiveness and reduce poverty.
The keynote address is by Budget Secretary Kim Robert De Leon. Other speakers include Gisela Kalalo, executive vice president and chief operating officer of the Bases Conversion and Development Authority; Nicholas Antonio Mapa, chief economist and markets strategist at Metrobank; Emilio Neri Jr., senior vice president and lead economist at BPI; Michael Ricafort, chief economist at RCBC; Robert Dan Roces, economist at the Office of the Chairman of SM Investments Corp.; and Lars Wittig, vice president of the European Chamber of Commerce.
The discussion comes as the Philippines faces the challenge of sustaining its economic gains amid concerns about investment, productivity, the cost of doing business and the quality of employment. The World Bank has emphasized the need for reforms that attract investment, lower electricity costs and create more and better jobs.
The forum will examine how government policy, private investment and stronger business competitiveness can help the country maintain its progress while ensuring that more Filipino households benefit from economic growth.
The event forms part of The Manila Times’ 128th anniversary activities, continuing the newspaper’s engagement with the economic policies and decisions shaping the country’s future.
