In the euphoria surrounding the high GDP growth in the first quarter (the highest in East Asia) the Philippine Government may become complacent and fail to address some of the challenges still facing the Philippine economy in the coming decade or so.  The next three years will be crucial if we are to take advantage of the growth momentum coming from rising domestic consumption, the revival of manufacturing, the continuing high growth of such services as BPO and tourism, the housing boom and the sterling performance of the Department of Public Works and Highways in accelerating the construction of vital infrastructures, especially in the regions outside of Metro Manila.  Before these engines of growth run out of steam, it is important that the Government address the still very low rate of investments to GDP (the lowest in East Asia), the mediocre level of Foreign Direct Investments (FDIs), and the very slow process of implementation of transport and communications projects (the Department of Transport and Communications is the weakest link in the government bureaucracy).