Can Philippines turn reforms into gains in Southeast Asia’s FDI race?

Not so long ago, the Philippines was bedevilled by warning signs to investors, from its corruption to its groaning infrastructure and a fuel crisis born of a war fought thousands of miles away.

Those problems have not simply disappeared, but a flurry of business-friendly reforms – paired with ambitious plans to upgrade the nation’s railways, ports and power grid – now puts it in a stronger position to capture some of the billions of dollars seeking a home outside the region’s recent supply chain...