Philippines’ long-running growth story mapped out in new report

A NATIONAL DRIVE to attract new investment to the Philippines by reducing both taxes and red tape is given wide-ranging analysis in a new report just produced by the global research and consultancy firm Oxford Business Group (OBG).

The Report: The Philippines 2017 charts the country’s long- running growth story, which entered a new chapter last year when President Rodrigo Duterte took offi ce.

There is detailed coverage of the sectors of the economy that are continuing to drive growth, which include manufacturing, agriculture and the country’s booming business process outsourcing segment.

OBG’s publication also examines the government’s plans to overhaul the country’s transport infrastructure as it moves to improve connectivity and address gridlock issues. Other areas of the economy explored include the Philippines’ tourism industry, which is benefiting from a high-profile, aggressive marketing campaign.

Andrew Jeff reys, OBG’s CEO, said that the Philippines’ strategic location in a fast growing region and well- educated, relatively low- cost work force had given it an advantage over several other investment destinations.

“Years of sound GDP growth and FDI have put the Philippines on a firm footing as it adjusts to a change in leadership,” he said. “With a raft of reforms in the pipeline aimed at further sharpening the economy’s competitive edge, the country is well placed to build on its solid foundations.”

OBG’s managing editor for Asia, Paulius Kuncinas, noted that rising consumer incomes were adding to the Philippines’ attractions at a time when investor interest was extending across more of the country.

“The nation’s regions are attracting both domestic and international interest, buoyed by their labor market potential and decentralization efforts,” he said. “With a high-profile president in place who has made clear his plans for driving new growth, expectations for the Philippines are on the rise.” The Report: The Philippines 2017 contains contributions from President Rodrigo Duterte, together with a detailed, sector-by-sector guide for investors. It also features a wide range of interviews with other highprofile personalities, including Carlos G. Dominguez III, secretary, Department of Finance, Ramon M. Lopez, secretary, Department of Trade and Industry and Shinichi Kitaoka, president of the Japan International Cooperation Agency.

The Report: The Philippines 2017 marks the culmination of more than six months of field research by a team of analysts from Oxford Business Group. The publication assesses trends and developments across the economy, including those in macroeconomics, infrastructure, banking and others. The Report: The Philippines 2017 is available in print and online.