MANILA, FEBRUARY 28, 2013 – A forthcoming report from the global publishing, research and consultancy firm Oxford Business Group will shed some light on planned big-ticket developments in the Philippines, including major road and irrigation schemes.
To be produced with the assistance from SyCip Salazar Hernandez & Gatmaitan law firm and Punongbayan & Araullo, The Report: The Philippines 2013 will explore the government’s bid to steer through its infrastructure program plagued by blockages, but is viewed as key to boosting investment. It also looks at the important role earmarked for banks in driving growth on the back of rising domestic demand and a further anticipated increase in lending. It will be produced with research assistance from OBG has signed a Memorandum of Understanding on research facilities once again with Punongbayan & Araullo to compile the Tax Chapter of The Report: The Philippines 2013.
OBG regional editor Paulius Kuncinas said the Philippines had surprised many investors recently by outpacing other ASEAN economies, including Malaysia and Thailand.
“Blessed with relatively limited natural wealth, the Philippines has been forced to look for more creative paths towards prosperity, such as business process outsourcing. This has made it one of the leading centers for English language back office outsourcing, serving some of the biggest companies in the US and Europe,” he said. “Going forward we think there is still huge potential to expand the Philippines’ market share in BPOs and also raise the value-add through outsourcing of more technical services. The main risk is still fairly low investment into infrastructure, with installed power capacity lagging behind other nations.”
The chairperson and CEO of Punongbayan & Araullo, Marivic Espano said she looked forward to teaming up with OBG once again to document the further economic expansion earmarked for the Philippines. “While there are of course concerns that the Philippines could be affected by global economic uncertainty, investors will have noted with interest that the country is expected to have one of the highest rates of GDP growth in Asia in 2013,” she said.
Rafael A. Morales, managing partner at SyCip Salazar Hernandez & Gatmaitan, pointed out that reforms had been a key driver in the Philippines’ growth story. “Strong consumption and rising investment have helped the country to become one of the fastest growing economies in the region,” he said. “I am thrilled to be helping the Group ensure that business leaders are provided with the latest information on the Philippines’ legal framework.”
OBG country director Baiba Petrusevica said she was confident that the contribution made by the partners to The Report: The Philippines 2013 would prove valuable to the investment community. “The teams at both Punongbayan & Araullo and SyCip Salazar Hernandez & Gatmaitan are well positioned to enhance our coverage of changes to the country’s tax laws and legal framework,” she said. “I am delighted to be working with them on our latest guide to investing in the Philippines which comes as the Group marks its fifth year of operating in the country.”
The Report: The Philippines 2013 will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will be available in print or online.
Baiba Petrusevica, country director – The Philippines, Oxford Business Group;
