News

Philippine economy to perform well says Fitch

Fitch_RatingsCredit rating agency Fitch Ratings expects robust performance from Philippine economy in 2019 and 2020, with GDP growth of 6.7% in each year, its managing director and chief operating officer said. Fitch’s Tony Stringer added the country is one of the fastest growing in the Asia Pacific region and highlighted domestic demand supported by rising expenditure under the government’s public investment programme as one of the key drivers of growth. Foreign Direct Investment (FDI) data points to positive investor sentiment of late, but “a relatively weak business environment could pose a risk to attracting higher levels of FDI,” warned Stringer. Philippine President Rodrigo Duterte recently gave the green light for 100% foreign investment participation in five areas. These are: internet businesses, teaching at higher education levels (provided the subject taught is not included in a government board or bar examination), training centers engaged in short-term high-level skills development that do not form part of the formal education system, insurance adjustment companies, lending companies, financing companies and investment houses, and wellness centers. Budget Secretary Benjamin Diokno is hopeful the $10 billion record set in 2017 for foreign investment net inflow will be broken this year. He noted that while there is a global decline in FDI, the Philippines is experiencing an uptick. ©2018 funds global asia

Executive Interviews

Interview: Money needs a place to go

Mar 11, 2019

Peng Fei, chief investment officer at Wanwei Asset Management, tells Romil Patel about allocating capital across risk factors when asset performance is uncertain and unpredictable.

INTERVIEW: Giving peace a chance

Jan 11, 2019

As US-China tensions escalated in 2018, the leaders of the two economies met in Buenos Aires to agree a truce. Aidan Yao, senior emerging Asia economist at Axa Investment Managers, talks to Romil...

Roundtables

Singapore roundtable: A money magnet

Mar 11, 2019

Our panel discussed why the Singapore Variable Capital Company makes them bullish, what gives the onshore jurisdiction an offshore feel and “blood on the streets” from China’s slowdown. Chaired by Romil Patel in Singapore.

HONG KONG ROUNDTABLE: A sunny picture

Jan 11, 2019

Changes to regulation, US-Sino trade tensions and further steps by China to open its capital markets were some of the topics discussed by our panel. Chaired by Romil Patel in Hong Kong.