Locating in the Philippines is a good investment for foreign businesses as the country can serve as a gateway to the population-rich Association of Southeast Asian Nations (ASEAN), according to the Neda. Know more:
LOCATING in the Philippines is a good investment for foreign businesses as the country can serve as a gateway to the population-rich Association of Southeast Asian Nations , according to the National Economic and Development Authority .
“So what’s in it for investors and businesses? The Philippines is a fast-growing economy of over 110 million people. Apart from having a sizable domestic consumer market, it can serve as a competitive launching pad for the ASEAN economies, home to over 680 million people, roughly 9 percent of the world population,” Balisacan said.
In order to sustain recent economic gains, Balisacan said the government is prepared to support its people by enacting policies and programs focused on education, health, and labor. To address these concerns, Balisacan said the government will boost health and food security as well as nutrition programs while strengthening social protection programs.
Meanwhile, the government will focus on transforming the services sector into a modern and productive sector. Tourism, information technology, and the business process outsourcing industries will become strong growth drivers for the economy.For his part, Bangko Sentral ng Pilipinas Governor Felipe M. Medalla assured investors that the country’s banking and financial house is under the watchful eyes of the monetary authority.
The regulation of banks, Medalla added, was “very straightforward” and the BSP made sure that banks that “carry more risks” have sufficient capital.
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