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PHILIPPINE BUSINESS ENVIRONMENT

PHILIPPINE BUSINESS ENVIRONMENT. Outline of Presentation. Philippine economy vis-à-vis other ASEAN countries Drivers of Philippine economic growth Why should Chinese investors come to the Philippines? Overview of Philippines-China economic relations

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PHILIPPINE BUSINESS ENVIRONMENT

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  1. PHILIPPINE BUSINESS ENVIRONMENT

  2. Outline of Presentation • Philippine economy vis-à-vis other ASEAN countries • Drivers of Philippine economic growth • Why should Chinese investors come to the Philippines? • Overview of Philippines-China economic relations • Growth areas for PHL-China Economic partnership?

  3. I. Philippine economy vis-à-vis other ASEAN countries Recently, Philippines has enjoyed better macroeconomic fundamentals. • GDP growth rate • Inflation rate • Credit rating Philippines has been enjoying a high growth rate, low inflation, and good fiscal position. With a strong domestic economy, Philippines is expected to be economically stable in coming years. Stable economy: Conducive environment to do business.

  4. I. Philippine economy vis-à-vis other ASEAN countries GDP growth rate Source: Bangko Sentral ng Pilpinas (BSP)

  5. GDP growth rate • Projected growth in 2014 is 6.5-7.5% • From 2014-2016: targeted annual GDP growth is 7-8%

  6. Inflation rate * October-November Source: Bangko Sentral ng Pilpinas (BSP)

  7. Inflation rate Philippines has been enjoying a high growth rate, low inflation, and good fiscal position. With a strong domestic economy, Philippines is expected to be economically stable in coming years. Stable economy: Conducive environment to do business.

  8. Credit ratings for 2013 Source: Standard and Poors, and Moody’s

  9. II. Drivers of Philippine economic growth • Population – Size of Domestic market • Remittances from overseas Filipino workers (OFWs) • BPO services • Manufacturing

  10. Population II. Drivers of Philippine economic growth 2nd largest domestic economy in ASEAN, with favorable demographics. Source: CIA World Factbook

  11. Remittances from overseas Filipino workers (OFWs) Pillar of the domestic economy. Source: Bangko Sentral ng Pilipinas (BSP)

  12. Business Process Outsourcing (BPO) Composition of the Philippine economy Strengths of the economy has been its services. BPO services has been a growth sector. Now, US$13.5 billion industry. Source: Bangko Sentral ng Pilipinas (BSP)

  13. Competitive Advantage of BPO Services in the Philippines • BFSI (banking, financial, services, insurance) • MDR (manufacturing, distribution, retail) • Healthcare • Telecommunications • Travel • Energy • Media

  14. III. Why should Chinese investors come to the Philippines? • Preferred investment destination for multinational companies • Geographic proximity • Size of population • Favorable access to major markets

  15. Summary of FDI Inflows to the Philippines (2002-2013) Why should Chinese investors come to the Philippines? (in million US$) 2002 – 1,542 2003 – 491 2004 – 688 2005 – 1,854 2006 – 2,921 2007 – 2,916 2008 – 1,544 2009 – 1,963 2010 – 1,298 2011 – 1,816 2012 – 2,797 2013 – 3.7 billion(for the period January to November 2013) Source: Bangko Sentral ng Pilipinas (BSP)

  16. Philippines: preferred investment destination

  17. Geographic proximity Close to coastal regions of China.

  18. Favorable access to major markets The Philippines’ top markets as of July 2013: 1. Japan 2. U.S.A. 3. China 4. Singapore 5. Hong Kong 6. South Korea 7. Thailand 8. Germany 9. Taiwan 10.Netherlands Source: Department of Trade and Industry (DTI) • ASEAN FTAs with other countries • ASEAN-Australia-New Zealand • ASEAN-China • ASEAN-India • ASEAN-Japan • ASEAN-Republic of Korea • Source: www.asean.org

  19. IV. Overview of Philippines-China economic relations

  20. BILATERAL ECONOMIC RELATIONSPhilippines-China economic relations are important: Source: DTI Tradeline Philippines (*adjusted figures)

  21. BILATERAL ECONOMIC RELATIONSPhilippines-China economic relations are important: Source: DTI Tradeline Philippines

  22. BILATERAL ECONOMIC RELATIONSPhilippines-China economic relations are important: Chinese Ministry of Commerce (MOFCOM) data (in US$1,000) Source: General Administration of Customs (GAC) of the People’s Republic of China

  23. BILATERAL ECONOMIC RELATIONSPhilippines-China economic relations are important: Chinese Ministry of Commerce (MOFCOM) data (in US$1,000) Source: General Administration of Customs (GAC) of the People’s Republic of China

  24. Export-Imports Source: Department of Trade and Industry (DTI)

  25. Growth areas for Philippine-China economic partnership • Business process outsourcing (BPO) services • Manufacturing • Tourism infrastructure • Public private partnership – infrastructure • Agro-industrial industries • Healthcare

  26. Thank you.

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