The Philippines needs to have a structural macroeconomic, cultural, and especially political reforms in order to maintain the recent economic stability of our country.
Our current economic growth is unsustainable if we continue to rely too much on OFW remittances instead of encouraging more investments in our domestic economy like more job opportunities for millions of unemployed Filipinos, improving our infrastructure, and strengthening our national defense.
To encourage more investments in our economy instead of relying on OFW remittances and BPO revenues, we need to amend the 1987 constitution and allow 100% foreign direct investment (FDI) participation at all economic sectors in our domestic economy instead of limiting them to 40% and find a local partner who is rich enough to front the 60% (only few locals can afford to front 60% of a large-scale foreign investments that's the reason most large-scale foreign investment in Southeast Asia goes to Singapore, Thailand, Malaysia, Thailand, Indonesia, and Cambodia where foreign investors can invest 100% from their own capital and can own what they invest).
To spread our economic gains not just in Metro Manila, we need to decentralize our form of governance like shifting from unitary to federal form of governance where the provinces or regions are the one who will manage the economic, cultural, and political policies of a specific province or region.
To assure an efficient governance from the top and to fasten the implementation of laws, we need to shift from the current presidential to parliamentary form of government where the Head of State (the President what I mean) should have only the ceremonial position while the real duty of governing the nation should be vested to the Parliament led by a Prime Minister and his/her Ministries as the current system ensures conflict between the executive and the legislative branch.