Friday, 18 September 2009

Philippines gets high marks as an emerging market


A NEW REPORT has projected investor sentiment to improve in 2010 and 2011, and has tagged the Philippines as among the top 10 key emerging markets beyond Brazil, Russia, India and China.

An annual report by UK Trade & Investment and the Economist Intelligence Unit — titled "Survive and Prosper: Emerging markets in the global recession" — sees the country in a light different from other recent competitiveness reports.

Unlike other listings that placed the Philippines near the bottom, this report put the country at 9th, a 14-notch imporovement from last year’s 23rd place.

It was not immediately known how many economies made up the ranking.

Results were based on a July-August global survey of over 540 firms from across 19 business sectors.

The report was presented at the Emerging Markets Summit in London yesterday which President Gloria M. Arroyo attended as keynote speaker.

It said "77% of companies expecting the prospects for the global economy to improve in 2010-2011."

Vietnam topped the report’s rankings, followed by the United Arab Emirates, Mexico, South Africa, Malaysia, Indonesia, Singapore, and Turkey. Saudi Arabia was tenth.


PGMA to join heads of emerging economies in high-level London forum

LONDON (PND) -- President Gloria Macapagal-Arroyo will be in familiar company when she attends the Emerging Markets Summit which opens here Thursday under the auspices of "The Economist", the renowned business news magazine. The President, who is due to arrive in this city of double decker buses Thursday afternoon from Turkey, will join five other heads of emerging economies who have confirmed their participation.

They are Mohamed Ghannouchi, Prime Minister of the Republic of Tunisia; Paul Kagame, President of the Republic of Rwanda; Korn Chatikavanij, Finance Minister of Thailand; Ali Babacan, Deputy Prime Minister of the Republic of Turkey; and Sri Anand Sharma, Minister for Commerce and Industry of India.

Over 300 business leaders and investors from all over the world are expected to attend the high-level conference, which will focus on the theme, "Globalization Redefined by Emerging Markets." President Arroyo is scheduled to deliver her keynote address late Friday at the close of the forum. She will take the opportunity to share the Philippines' view on Asia's leadership in the global economic recovery and to promote the country as a highly attractive investment destination.

Her speech is expected to highlight the resiliency and continued growth of the Philippine economy which reported a positive 1.5 percent growth in the second quarter, three times the 0.5 percent median of expected growth during the current global economic downturn.

While here, the President is due to witness the signing of two landmark agreements which will intensify legal cooperation between the Philipppines and the United Kingdom. Foreign Affairs Secretary Alberto Romulo and British First Secretary of State Lord Mandelson will sign the RP-UK Mutual Legal Assistance Treaty and the RP-UK Extradition Treaty. With over 200,000 Filipino migrant workers in the United Kingdom, President Arroyo will take the opportunity to meet members of the Filipino community and encourage them to further contribute to the continued economic resilience of the country.


MANILA, Philippines—The Philippines ranked 9th among key emerging markets for global investors in 2009, jumping 14 spots from 23rd place the previous year, according to new research published by UK Trade & Investment.

"The global recession was a wake-up call for companies to diversify their export base and seek out new opportunities in the emerging world. We are encouraging UK business to look to the Philippines and find new business in this exciting new market," British Ambassador to the Philippines Stephen Lillie said in a statement released to media outfits.

According to an embassy brief, the United Kingdom is the top net foreign direct investor in the Philippines, investing $298.17 million last year. There are currently around 200 British companies active in the Philippines, ranging from big multinationals to small and medium enterprises (SMEs).

According to the same brief, President Gloria Macapagal-Arroyo in March this year delivered a keynote message during the Emerging Markets Summit which might have helped put the Philippines in the radar of British businessmen.

Over 300 business leaders and investors from all over the world participated in the forum, giving her the opportunity to share the Philippines' view on Asia's leadership in the global economic recovery and to promote the Philippines as an investment destination.

In that forum, Arroyo highlighted the resiliency and continued growth of the Philippine economy, which posted a 1.5 percent economic growth in the second quarter of 2009.

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