The Report: Philippines 2017

  • ID: 4437460
  • Country Profile
  • Region: Philippines
  • 267 Pages
  • Oxford Business Group
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Worrying statements from President Duterte have caused some uncertainty among foreign investors, but far-reaching policy reforms - including corporate income tax reduction, loosening of foreign investment restrictions, and reduction of red tap and lengthy business registration processes - will help offset these concerns. Export growth may falter, but expected increases in foreign direct investment inflows should reverse the situation and the country is likely to meet its 2017 targets for investment.

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Across the pacific: A diverse country looks to build on a record of growth
Interview: President Rodrigo Duterte
Changing of the guard: The election of a highprofile president has captured the world’s attention and raised expectations for growth
Interview: Le Luong Minh, Secretary-General, ASEAN

Keeping up: The country maintains sound GDP growth and investment flows
Interview: Carlos G Dominguez III, Secretary, Department of Finance
Fiscal space to spend: Government easing the business climate through lower taxes
Interview: Shinichi Kitaoka, President, Japan International Cooperation Agency
Interview: Bernie H Liu, Chairman and CEO, Golden ABC
Increasing earnings: Challenges to employment are a government priority
Interview: Helen Y Dee, Chairperson, RCBC
Start small: Small and medium-sized businesses are at the core of the economy

Centre of attention: Investors, government planners and citizens eye up the nation’s regions
Regional player: Decentralisation efforts continue making Central Luzon an attractive bet
Interview: Hermilando Mandanas, Governor, Province of Batangas
Queen of the south: The Philippines’ fifth most populated province has become an attractive destination for investment
Interview: Alfredo Marañon Jr, Governor, Province of Negros Occidental
Interview: Anthony del Rosario, Governor, Province of Davao del Norte

Balancing act: Stability in imports and exports is ensuring the country remains an integrated global player
Interview: Ramon M Lopez, Secretary, Department of Trade and Industry
Ease and attractiveness: New investment and business reforms are giving the economy a competitive edge
Interview: Vivencio B Dizon, President and CEO, Bases Conversion and Development Authority

Strong and sound: The sector pushes to expand penetration and reduce the number of banks
Interview: Amando Tetangco, Governor, Bangko Sentral ng Pilipinas
Legislative review: Amendments to laws addressing money laundering and financial crime are likely following the recent cybertheft
Opening the market: A number of foreign banks have entered the sector since 2014
Interview: Alex Buenaventura, President and CEO, Land Bank of the Philippines

Taking stock: New innovations considered in a bid to boost market growth
Room to grow: Despite challenges, the stock exchange still boasts strong fundamentals

Bright prospects: Stable growth in premiums and market penetration continues, while regulatory reforms ensure insurers remain strong
Interview: Peter Grimes, President and CEO, FWD Philippines

Seeking balance: While electricity supply surges to meet demand, companies struggle to find domestic hydrocarbons sources
Interview: Guido Alfredo Delgado, President and CEO, Emerging Power Incorporated
Interview: Albert D Altura, President, AG&P
Rising to the surface: Local companies seek to realise untapped potential
Back in business: Development in Mindanao spurs growth in the power segment

Gearing up: Industry bolstered by manufacturing and increasing demand
Interview: Patrick Henry Go, President and COO, JG Summit Petrochemicals Group
Pole position: Auto manufacturing set to take off as demand grows
A rock and a hard place: Despite substantial mineral deposits, mining is on rocky ground
Interview: Jonathan C Ng, President, Republic Biscuit Corporation
No slowing down: Retail is expanding on the back of favourable economic conditions

Wish you were here: Foreign visitor numbers rise with sustained investment and promotion
Smooth sailing: New strategy to develop cruise tourism looks to capitalise on the nation’s natural advantages
Interview: Steve Wolstenholme, President, Okada Manila

Fast track: The new administration is set on overhauling infrastructure and reducing bureaucracy
Roundtable: Andrew R Hoad, Executive Vice-President, Asian Terminals Inc; Christian R Gonzalez, Asia Region Head, International Container Terminal Services Inc; and Jay Daniel R Santiago, General Manager, Philippine Ports Authority
Crucial links: Large-scale railway projects will tackle congestion and slash journey timesOpen door: Government looks to unlock potential by addressing gridlock
Port of call: Strategic investments and reforms are under way to improve multimodal connectivity
The sky’s the limit: Expansion of aviation facilities to boost capacity for logistics and travellers alike
Shifting waves: Moving more maritime traffic to regional ports will help ease congestion in the Manila area
Low cost, high flying: The country’s largest lowcost carrier is expanding its fleet while adding new domestic and international routes
Money talks: The 2017 national budget prioritises spending for transportation and infrastructure, but inefficiencies must still be remedied

High rise: Economic growth spurs building in large cities as well as infrastructure development in more remote areas of the country
Interview: Bernard Vincent Dy, President and CEO, Ayala Land
Interview: Alberto C Agra, Chairman, Philippine Reclamation Authority
Booming cities: The need for office space and other facilities is pushing investment to nearby locales

People power: Skilled in voice and other valueadded services, the outsourcing powerhouse is attracting worldwide companies
Next wave cities: Opportunities for companies and workers are spreading beyond Metro Manila
Interview: Maria Cristina Coronel, President, Pointwest Technologies

Mobile nation: Increasing investment has led to improvements in service and quality, while competition is set to rise
Interview: Rodolfo A Salalima, Secretary, Department of Information and Communications Technology
Clear responsibilities: A dedicated department will promote the national ICT agenda
Getting connected: Expansion of IT infrastructure is a key priority

Fertile ground: The sector remains a key economic and social contributor
Interview: Emmanuel F Piñol, Secretary, Department of Agriculture
Bounty of the sea: The regulations governing fishing have been tightened
Interview: Rachel Lomibao, CEO, Monsanto Philippines

Check up: The new administration is building on the progress made in the last decade and expanding coverage
Interview: Paulyn Jean B Rosell-Ubial, Secretary, Department of Health
Out of shape: Changes in lifestyle have led to growing concerns over non-communicable diseases
Interview: Dr Edgardo R Cortez, President and CEO, St Luke’s Medical Centre
Kick the habit: Tackling drug addiction has become a major priority
At your fingertips: New technologies are expanding access to more Filipinos
In the best of health: Many Filipinos receive health care through health maintenance

A thorough examination: Substantial reform has brought with it a variety of challenges
Interview: Jikyeong Kang, President and Dean, Asian Institute of Management
Quantum leap: The country has extended compulsory schooling by two years
Practical magic: Equipping young people with workplace skills is a high priority

Duty calls: A look at the tax laws applicable to individuals and businesses
Interview: Marivic Españo, Chairperson and CEO, P&A Grant Thornton

Rules of supply: The Procurement Act has been updated
Interview: Sylvette Tankiang, Senior Partner, V&A Law

Rest easy: Accommodation options
Listings: Useful phone numbers for government and business agencies
Facts for visitors: Helpful travel information

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