The Philippines netted about US$2.5-billion in foreign direct investments (FDI) last year, up by 8.7% from its 2006 figures at US$2.3-billion. But compared to its neighboring countries, the country attracted fewer investments.
In the United Nations Conference on Trade and Development (UNCTAD) report released on January 8, the Philippines was shown lagging behind four Southeast Asian economies, namely Singapore with US$37-billion FDI, Malaysia with US$9.4-billion, Thailand with US$10-billion, and Indonesia with US$6-billion.
Nonetheless, growth prospects for the Philippines, according to the World Bank's Global Economic Prospects 2008 report, is expected to reach 6.7% – above Asian average. The forecast figure is also higher than the the 6.2% record growth attained in 2004.
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