Sign up | Log in



Home  >>   Daily News  >>   Philippine News  >> Investment  >> PHL needs investments to create jobs – official
NEWS UPDATES Asean Affairs   19 September 2013  

PHL needs investments to create jobs – official

 In line with efforts to create more jobs and achieve inclusive growth, Philippine economic managers are pushing for higher foreign direct investments (FDI) – as much as 20 percent a year, a Cabinet official said Tuesday.
Government is eyeing “significant and steady” increases of 15 to 20 percent in yearly FDI, Trade Secretary Gregory Domingo said during a panel discussion at the Philippine Economic Briefing at the Philippine International Convention Center in Pasay City.
Domingo said Philippines registered $2.2 billion in net foreign direct investments in the first half and is likely on its way to at least matching the $2.8 billion as of end-2012.
Continued improvements in the country's business competitiveness and in addressing key infrastructure bottlenecks will shore up more direct investments to create jobs and alleviate poverty, the Cabinet official said.
“Improvements in government purchases and making [transactions] more of a level playing field are really keys,” said Domingo. “The Aquino administration's good governance agenda has captured the imagination of the entire world,” he added.
At the same briefing, private sector counterpart Guillermo Luz – co-chairman and of the National Competitiveness Council under the Trade Department – noted the Philippine desire to reach the middle third from the bottom third in terms of global competitiveness.
“We've made gains,” Luz said, citing improvement in rankings of various business surveys like the World Economic Forum's Global Competitiveness Index released early September.
“We're well on our way to meet our target,” he said.
Other than constant improvements in financial and labor market competitiveness, Luz said there is a need to focus on investments in infrastructure, health, technology and the environment.
For Securities and Exchange Commission, chairperson Teresita Herbosa said the commission has dropped some documentary requirements in business registration.
The SEC submitted a final draft of amendments to the Corporation Code, which aims to tighten rules on board of directors and mergers, she said.
Meanwhile, the Bureau of Internal Revenue (BIR) Commissioner Kim Jacinto Henares said the bureau is going for systems automation to speed up processes and ease investment hurdles.
Government is also working on increasing domestic investments which also create jobs. “We need both foreign and local direct investments. We need investments that create jobs,” according to the BIR chief.
Philippine unemployment rate was up to 7.3 percent in July from 7.0 percent a year earlier, latest government data showed.  
The Philippine jobless rate belies the economic growth recorded at 7.5 percent in the second quarter, the fastest in Southeast Asia.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories    19  September 2013 Subsribe Now !
• Governors and Mayors of ASEAN Capitals Meet in Jakarta to Support ASEAN Community 2015 Subcribe: Asean Affairs Global Magazine
• Yangon's traffic woes blamed on imported cars Asean Affairs Premium
• Pork supply in Singapore safe, as strike ends at Indonesian farm
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Ethnic leaders to discuss Kaladan project with Indian govt
• Casino eco-resort project approved in Phu Quoc
• Battambang Pepsi factory torn down to make facility
• PHL needs investments to create jobs – official
Asean Analysis           18 September 2013 Advertise Your Brand
• Asean Analysis- September 18, 2013
Asean's Democratic Deficit
• Asean Weekly:The Biweekly Update 6 September 2013
Asean Stock Watch     18 September  2013
• Asean Stock Watch-September 18, 2013 

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand