Foreign business chambers optimistic on inclusive growth

MANILA, Philippines -  The Philippines remains the hottest market in Asia and the region’s demographic sweet spot, according to Rick Santos, president of the American Chamber of Commerce of the Philippines (AmCham) at a meeting of the Joint Foreign Chambers (JFC) of the Philippines in Makati City.

Santos met with other joint foreign chamber ambassadors recently to discuss the reforms being advocated in the seven policy notes that JFC released in a previous forum in March.

The policy notes detailed solid recommendations for developing specific key sectors, including BPO (business process outsourcing), agriculture, creative industries, infrastructure, manufacturing and logistics, mining, and tourism.

“With the real estate market continuing on its strong growth trajectory, we continue to push for the REIT Law and amendments in the foreign ownership act to boost foreign investment in the country. The Chambers will continue to push for inclusive growth with the next administration,” added Santos.

He underscored that the theme of inclusion is timely in light of the incoming administration, and issues such as tensions rising over the South China Sea, the signing of the Trans-Pacific Partnership, and looming negotiations between the Philippines and the EU over a Foreign Trade Agreement.