More investments keep pouring in RP
Dagupan City (29 June) -- The Philippine economy has a lot to smile about these days as new and big investments keep pouring in, signaling real investor confidence in the country.
Data from the Bangko Sentral ng Pilipinas showed its registered foreign portfolio investments in May 2009 rose 125 percent, from $435 million in April to nearly $1 billion in May.
The figure resulted in a net inflow of $498 million during the month as total outflows dropped 33 percent, from $711 million in April to $480 million in May. Monetary officials noted the country has benefitted from revival of investors' risk appetite to emerging economies which include the Philippines.
Among these new investments was that of Texas Instruments (Philippines), Inc. which opened its $1.5 billion assembly and test facility at Clark, Pampanga.
Best Western International, the world's largest hotel chain, plans to expand to 15 hotels by 2012 from only two at present.
The German firm Berstelmann-Arvata opened a 600-seat call center facility in the country in February.
Sitel, one of the worlds' leading business process outsourcing (BPO) service providers started the operation of its 2,000 seat facility in Pasig City lat May, its fourth office in the country.
With President Gloria Macapagal-Arroyo's recent visit to Japan and Brazil, Japanese companies also made firm commitments to invest and/ or increase their investments in the Philippines. They include Toshiba, Marubeni and Tokyo Electric, Toyota, Sumimoto and Mitsubishi UFJ. (VMHS/PIA-Pangasinan) [top]