Fast Facts About the Philippines, Sept. 2013

FAST FACTS ABOUT THE PHILIPPINES SEPT. 2013 I POLITICS ECONOMY PH closed the the 2nd Quarter with a 7.5% GDP growth Pres. Aquino signed RA 10607 to protect the money of insurance policyholders by increasing capital requirements for insurance firms for 3 years until Japan's R&l: Positive outlook is due to robust consumption, sustained remittances of overseas Filipino workers (OFWS) and stable inflation. 2022. The Philippines increased its Global Competitiveness Index Ranking to 65th, up from being 85th last year. PH international tourists grew by 11% to 2.4M. Optimistic PH economic outlook from different organizations: Office for Competition under the Department of Justice is 8.0% 8.00% created to reduce bureaucratic 7.90% 7.8% red tape and encourage ease in tax payment. 7.5% ING ANZ Standard S Chartered S l BUSINESS MAyala ZALLIANCE Global Jollibee AMONG THE "50 BEST BIG LISTED COMPANIES IN ASIA" ACCORDING TO FORBES. $ INVESTMENTS O, INFRASTRUCTURE & ENERGY MUSLIM IN N S REGION Foreign investments went up by 39%, signaling an improving business environment and Public spending for infrastructure increased by 42.2% (Php125.5B), mostly for the ARMM region. strong investor interest. RTICIAL SE 200,000 new jobs will be created through foreign investment in the Philippine electronics and semiconductor sector. A new international airport and seaport in Cavite is in the pipeline from All-Asia Resources and Reclamation Corp. (ARRC). Construction industry has one of the highest investment growth, reaching 15.1% (Php517.2B in 2012). An earth-friendly biomass power plant in Butuan City is also in the pipeline, a source of renewable energy that is capable of producing up to 20 MW. Source: eccp Brought to you by: KMC MAG EUROPEAN CHAMBER OF COMMERCE OF THE PHILIPPINES Group savills ANAO