by: Sarah Joson
Thursday, October 22, 2015 |
According to the Philippine Embassy in Washington, the Philippines’ private sector delegates in the 4th Philippine Private Sector-led Investment Roadshow in Pittsburgh, Pennsylvania could reinforce the country’s ties with the United States using its growth track record as leverage. The Philippines is said to have continued economic growth and exceptional level of investor confidence.
The group was spearheaded by Dr. Bernardo Villegas, visiting professor at IESE Business School in Barcelona and professor at the University of Asia and the Pacific. One of the delegation’s goals is to improve business partnerships between private parties in the Philippines and the United States.
He said there are several reasons why US firms should invest and even expand operations in the Philippines: impressive macroeconomic performance and stock market climate of the country, the best-ever levels of foreign direct investment, the global demand for Filipino candidates, and its sound political environment.
Philippine Ambassador to Washington Jose Cuisia Jr. said foreign companies are looking at these improvements which are usually highlighted in various reports and indexes.
In fact, the representative pointed out that the country was ranked 47th out of 140 economies - five places higher than last year’s ranking in the World Economic Forum Global Competitiveness Index for 2015 to 2016.
Cuisa said the positive assessment of the country puts it in the spotlight before global companies where its favorable macroeconomic environment, capacity for innovation, and business sophistication are highlighted.
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