An SMU-JP Morgan study to assess the readiness of the five largest economies in the South-east Asian region ahead of the establishment of a single regional market by year-end, found that much remains to be done in the Philippines to prepare sectors identified by the Philippine Government as priorities for future economic growth. Presenting the preliminary findings of the ongoing study at a recent forum in Singapore, SMU School of Social Sciences Dean, Special Advisor to the President on Greater China and Professor of Political Science James T H Tang, noted that skill gaps are much bigger “at the higher end of the value chain, namely at the level of managers, supervisors and specialists”. Prof Tang added that the situation is exacerbated by “qualification inflation”, particularly at the tertiary level, and labour market inefficiencies, which cause an over-supply of certain professions like nurses, seafarers and school teachers.