PH ranks 19th among Top 20 investment destinations–UNCTAD
MANILA, Philippines – For the first time in three years, the Philippines made it to the worldwide list of top 20 investment destinations, ranking 19th, according to the United Nations Conference on Trade and Development (UNCTAD), which did the report.
Quoted by the Philippine Information Agency (PIA), the UNCTAD said the survey was conducted among 159 transnational corporations (TNCs).
TNCs, according to the UNCTAD website, are incorporated or unincorporated enterprises comprising parent enterprises and their foreign affiliates. A parent enterprise is defined as an enterprise that controls assets of other entities in countries other than its home country.
Tied with the Philippines at 19 were Hong Kong and Turkey. China and United States ranked first and second as preferred investment destinations.
Other countries conducive for investments are Japan, India, Malaysia, Indonesia, Thailand, Vietnam, Germany, Brazil, Mexico, United Kingdom, Russian Federation, Australia, Poland, South Africa, Canada, and France.
Meanwhile, the PIA reported that the Philippines ranked second among the ASEAN member countries that recorded the biggest foreign direct investment (FDI) inflow for the first half of this year.
Based on the UNCTAD report, the country had a 10.9-percent increase in FDI inflows or $2.2 billion in the first half of year 2013.
FDI refers to an investment made to acquire lasting interest in enterprises operating outside of the economy of the investor, according to its UNCTAD definition.