A proposal to institute mandatory household and business insurance cover against natural disasters is set to go before the Philippine government. If passed, the measure could not only help mitigate risk stemming from catastrophic events, but also broaden the base of the underwriting sector.
Solid gains by the Philippine manufacturing industry are set to continue through the remainder of the year, but increased investment will be needed to boost production in the long term.
Government authorities are looking to ease traffic congestion and boost the Philippines’ ageing infrastructure by increasing government funding and streamlining the approval process for transport projects.
Improving connectivity in the Philippines via a high-speed broadband network looks set to be a priority for the new administration, as broader efforts to boost productivity and GDP take shape.
An easing of restrictions and regulatory requirements is expected to boost foreign direct investment (FDI) in the Philippines, as the administration of President Rodrigo Duterte looks to increase the country’s attractiveness as a business destination.
Rising consumer confidence combined with the new administration’s plans to open up the economy look set to underpin strong demand and growth in the Philippines’ retail sector.
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