Some of the largest investment hubs in Luzon—including the Subic Bay Freeport Zone—may incur massive financial losses, the same as that suffered by Mindanao-based businesses, if the government were to fail in taking decisive steps to meet rising power demand in these areas.
The peso moved sideways on Tuesday as the market weighed the impact of a central bank’s move to restrict access to its special deposit account (SDA) facility and favorable outlook on the domestic economy.
Foreign direct investments surged in February, reversing the contraction recorded the previous month, as the country succeeded in attracting more foreign enterprises to do business here.
Net inflow of foreign direct investments (FDI) plunged in January as uncertainties in the global front, such as those brought about by weakness of advanced economies, prompted fund owners to exercise prudence in making business decisions.
To the President: Make agriculture and tourism the priority sectors for infrastructure support and development to create more jobs.
By coming to the World Economic Forum for the first time, President Aquino is seeking more investors and tourists to come to the Philippines in order to create more jobs and sustain the country’s economic momentum beyond his term as chief of state.
The peso inched up on Tuesday amid projections dollar inflows to the country would remain strong in 2013.
FOREIGN direct investments fell in October 2012 from the previous year despite the Philippines’ supposedly favorable macroeconomic fundamentals.
Despite its favorable demographics, the Philippines continues to miss out on a greater share of foreign direct investments (FDIs) due to a “restrictive” foreign ownership policy and “uncompetitive” business environment, British banking giant HSBC said.
The year 2012 is claimed to be one of the best years ever for the Philippine economy, with the gross domestic product expected to surpass the government’s target of 5 to 6 percent and the stock market ending the year on its 38th record high, making it the second-best performing market in Asia behind Thailand.
The Philippines suffered a big drop in foreign direct investments (FDIs) in September in what officials claimed was due to global economic problems.
Local stocks tumbled on Monday due to profit-taking and concerns on foreign ownership regulations in the country.
