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PH Foreign Investments could Reach $75B this Year

by: Sarah Joson

Wednesday, January 25, 2012 | Outsourcing News |

BPO Industry Included in PH's "7 Big Winners Sectors"

Foreign investors are believed to be noticing the notable changes in the Philippine business climate. Members of the Joint Foreign Chambers (JFC) believe that this can improve the foreign direct investments (FDI) of the country which could reach $75 billion this year.

The group presented 471 recommendations to boost the growth of the Philippine economy, including the seven major industries, to Malacañang. The recommendations identified agribusiness, business process outsourcing (BPO), creative industries, infrastructure, manufacturing and logistics, mining and tourism, medical travel, and retirement as the “Seven Big Winner Sectors” of the country’s economy.

Senior Adviser of the American Chamber of Commerce John Forbes believes that flow of foreign investments to the country will improve this year. In fact, there is already growth in the number of inquiries from other countries.

He added that one of the key factors that clearly help lift investor confidence to the Philippines is the unwavering support shown by the government, specifically the recommendations entitled Arangkada Philippines 2010 submitted by the JFC.

JFC is set to present a 130-page First Anniversary Assessment which will show the progress of the Arangkada 2010 and 471 recommendations at the Grand Ballroom of Marriott Hotel.


Source:
http://www.abs-cbnnews.com/

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