Economy

Though early performance has been sluggish, officials in the Philippines are confident the strong foreign direct investment (FDI) showing from last year will be maintained in 2014, with an improved business climate along with political and economic stability as the Philippines’ main selling points. Even so, competition for investments is likely to remain keen.

After years of discussions and document-drafting, Jordan is poised to introduce a new investment law which the administration hopes will play a key part in reinvigorating the economy.

Over recent years, Ghana has been one of the world’s fastest-growing economies, on the back of the emergence of its oil industry and underpinned by its political stability and the strength of its other commodity sectors. While GDP growth is expected to slow this year, the Ghana Investment Promotion Centre (GIPC) is targeting a 20% increase in foreign direct investment (FDI), following a dip in 2013.

Supporting the development of Oman’s small and medium-sized enterprises (SMEs) is regarded as a key method for boosting private sector employment levels and direct Omani involvement in the economy. With these goals in mind, government policy is being implemented to provide SMEs with additional funding and expertise, as well as to grant them wider access to government tenders.

Pressure is mounting on Malaysia’s central bank to tighten loan restrictions after its annual report showed household debt levels inching towards 87% of GDP at the end of 2013. With the highest household debt levels in Asia, demand for credit is driven primarily by the desire to buy properties and vehicles.

The recalculation of Nigeria’s GDP may encourage more foreign investment and further development, though the rebasing process has also underscored the need for more of this newly identified wealth to be invested in structural reforms to ease income inequality and boost social and economic inclusiveness.