MANILA, Philippines — A proposed free trade agreement (FTA) between the US and the Philippines is making strong headway as both parties are showing inclination in moving forward towards the realization of a bilateral deal.
“Good news to learn that United States Trade Representative (USTR) Ambassador Robert Lighthizer has acknowledged in a recent US Congressional hearing that as they conduct thorough studies in strengthening bilateral relations and having an FTA with other countries in the Pacific, such as Japan, Malaysia and Vietnam, they also look at the Philippines as a reasonable first step in their strategy in the Asia-Pacific region,” Trade Secretary Ramon Lopez said.
“I believe that this will be a good indication of how we will be able to elevate the quality of our trade ties with the US, going beyond the current GSP arrangements,” Lopez added.
TOKYO, Japan—Taiwanese motorcycle giant Kwang Yang Motor Co. Ltd. (Kymco) is set to boost its operations in Southeast Asia following its strong drive into Europe, with the Philippines seen as among the most important markets in the region for its growth strategy.
“We are relatively small in Southeast Asia. We are stronger in Europe, but our next phase, our next stage will focus on Southeast Asia especially now that we are aggressively developing scooters,” Kymco Group chairman Allen Ko said in an interview here.
“I think we still have a lot of potential in the Philippines, that’s how I feel,” he said.
Southeast Asia is a very attractive market for Kymco to grow its brand moving forward because its cities are very congested, Ko said.
MANILA, Philippines — Net inflow of foreign direct investments (FDIs) reached a record high of $10.05 billion in 2017 on the back of positive investor sentiment amid the country’s sound macroeconomic prospects, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.
According to data from the BSP, net inflow of FDIs last year amounted to $10.05 billion, 21.4 percent higher than the $8.28 billion recorded in 2016.
It also breached the full-year 2017 target of $8 billion earlier set by the BSP.
“Investors continue to view the country as a favorable investment destination on the back of the country’s sound macroeconomic fundamentals and growth prospects,” the BSP said.
MANILA, Philippines — The Philippines ranked first among a list of countries “worthy of investment” this year based on a recent survey conducted by an American media company.
In its report titled “2018 Best Countries to Invest In,” US News & World Report hailed the Philippines as the top investment destination, citing the country’s $304.9-billion gross domestic product, 103.3 million population and $7,739 GDP per capita.
“In contrast to declining inflows of foreign direct investment, or FDI, to Southeast Asia as a whole, the Philippines continued to perform well, according to United Nations data,” the report read.
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The Philippine Trade & Investment Center in Taipei is the Commercial Affairs Section of the Manila Economic and Cultural Office and the representative office of the Philippine Department of Trade & Industry in Taiwan