LEADING ECONOMIST AND BUSINESS LEADERS BULLISH ON PHILIPPINE BUSINESS OPPORTUNITIES An overflow crowd greeted the bullish message of leading representatives of the Philippine private sector including the economy, capital markets, mining, infrastructure, real estate, human resources and outsourcing with enthusiasm on January 26, 2012, in a forum hosted by the Philippine-American Chamber of Commerce and [...] Read more »
PhilAm Chamber Hosts Private Sector Investment Forum in NYC
by PACC January 29, 2012 » Add the first comment.
Aquino and Obama to Meet at The White House
by PACC January 14, 2012 » Add the first comment.
Philippine President Benigno Aquino III and US President Barack Obama will meet at the White House in Washington, D.C. this Spring. President Obama extended the invitation to President Aquino during the Association of Southeast Asian Nations (ASEAN) Summit in Indonesia last November. The U.S. Ambassador to Manila recently confirmed that the invitation [...] Read more »
Philippines to Rationalize Fiscal Incentives
by PACC January 8, 2012 » Add the first comment.
The Philippine Department of Finance is reviewing a fiscal incentives bill passed by the House of Representatives before it is deliberated upon by the Senate. The rationalization of fiscal incentives is among the top priorities of leading business groups including The Philippine Chamber of Commerce and Industry (PCCI), the country’s most influential and biggest business [...] Read more »
PNOC Seeks JV Partners for Power Plants Near Coal Mines
by PACC January 1, 2012 » Add the first comment.
PNOC Exploration Corp. (PNOC-EC), the upstream oil and coal arm of Philippine National Oil Co., plans to put up two power plants near PNOC-EC’s coal mines in Isabela and Zamboanga Sibugay. Combined, the projects are expected to cost Php 17.2 billion (US$400 million). The company is looking for joint venture partners for the two [...] Read more »
Philippines Expects Severe Climate Changes Over Next Decade
by PACC December 28, 2011 » Add the first comment.
Coinciding with a severe tropical storm that killed more than 1,000 people in Northern Mindanao — a place that usually never sees such storms — a new report predicts that the Philippines should prepare itself for more frequent extreme weather events. Climate projections by the the Philippine Atmospheric Geophysical and Astronomical Services Administration (PAGASA) paint [...] Read more »
S&P Raises Philippine Credit Rating Outlook to Positive
by PACC December 20, 2011 » Add the first comment.
Standard & Poor’s Ratings Services raised its outlook for the Philippines’ credit rating on December 15th to positive from stable. The announcement raises the possibility that the Philippines could soon see its credit rating reach investment grade. S&P cited “strong external liquidity and signs of improving growth prospects.” The Philippines is currently rated [...] Read more »
Competitiveness Council Makes Progress
by PACC December 13, 2011 » Add the first comment.
The Philippine National Competitiveness Council (NCC) plans to issue an optimistic report this month, citing progress in this year’s good governance and transparency efforts. The report will identify macroeconomic gains and improved trust in public institutions as positive accomplishments this year, while noting weak attempts to upgrade infrastructure. The NCC has also acknowledged that the [...] Read more »
Philippine GDP Growth Slows in Third Quarter
by PACC November 28, 2011 » Add the first comment.
Philippine economic growth slowed to just 3.2% in the third quarter as a result of weakness in the agriculture sector due to a heavy typhoon season and a drop in construction activity. The growth rate was down from last year’s 7.3%, but was better than the 3.1% growth logged for the second quarter of this [...] Read more »
USTDA Supports Connectivity and Trade in ASEAN Region
by PACC November 22, 2011 » Add the first comment.
President Obama and his counterparts from the Association of Southeast Asian Nations (ASEAN) announced the U.S.-ASEAN Connectivity Cooperation Initiative, to be implemented by the U.S. Trade and Development Agency (USTDA) in cooperation with the U.S.-ASEAN Business Council and its member companies. By launching this Initiative, USTDA is forming a partnership between the U.S. government [...] Read more »
No Place for Bullies in the South China Sea
by PACC August 23, 2011 » Add the first comment.
The rule of law is the bedrock of peace, order and fairness in modern societies. The recent aggressive behavior by China in the Spratley islands of the South China Sea casts a shadow over any semblance of that rule of law. Chinese navy ships have fired on unarmed Philippine fishing boats. They [...] Read more »