Filipino business chief executive officers (CEOs) have concluded in their United States-wide investment road show an appeal to Americans to take advantage of the “resurging” Philippine economy, the Department of Foreign Affairs (DFA) said on Friday.
Investors in the United States are upbeat about the Philippine economy and have expressed “strong interest” in doing business here, according to the country’s ambassador to the US following the investment roadshow that brought top Filipino businessmen to three US cities last week.
South Korean businessmen are keen to invest more in the Philippines in light of the strong economy, the Aquino administration’s anti-corruption campaign and its public-private sector partnership (PPP) program, a South Korean diplomat in Manila said recently.
Interior Secretary Mar Roxas and Sen. Loren Legarda on Saturday attributed the decision of Fitch Ratings to award the country with its first-ever investment grade rating of BBB- from BB+ on the reform-oriented and transparent governance of President Benigno Aquino III.
The Japanese government has provided the Philippines with a fresh P23.19 billion in loans for critical transport infrastructure, including the upgrading of two metro railways and the construction of a higher-capacity airport in Bohol.
South Korea’s major rural development movement has committed to help improve agricultural production in Sta. Cruz, Zambales, through the sharing of technical knowledge, skills and modern machinery with farmers of the municipality.
President Benigno Aquino III has pitched to the international investor community the Philippine story of transformation from being a “sick man of Asia” into one dynamic country bucking a global economic downturn.
Health advocates on Friday expressed concern over the decision of British American Tobacco (BAT) to invest $200 million in the Philippines.
Foreign investment in China fell again in September and a government spokesman said it was too early to forecast a recovery in trade.
Japanese trading giant Marubeni is expected to finalize by September a deal to buy a 20 percent stake in water concessionaire Maynilad Water Services Inc. for about $400 million.
The Senate, standing as an impeachment court, has spoken. The verdict on the highest magistrate of the land, on accusations that he willfully concealed substantial assets from his statement of assets, liabilities and net worth (SALN), is guilty, on a clear 20-3 vote.
The local stock market attracted droves of foreign investors in the first two months of the year, driving valuations higher and lifting the main index to unprecedented heights.
