Economy

With strong economic growth, an expanding population and an increasingly sophisticated internal market, the Philippines is one of Asia Pacific’s brightest investment opportunities. Concerted efforts to reform taxes, improve the ease of doing business and shore up capital markets are under way, while inflation is back under control and a major programme of infrastructure development is accelerating. Meanwhile, structural reforms are continuing and significant shifts are being undertaken in key areas such as fuel subsidies and rice imports. Additionally, more sectors of the economy are being opened up to foreign participation as the country moves towards greater integration with its international partners. All these moves are helping the Philippines move up the value chain, diversify its economy and attract greater foreign direct investment. This chapter also contains interviews with Carlos G Dominguez, Secretary of Finance; and Kevin Tan, CEO, Alliance Global Group.