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THE PHILIPPINE ADVANTAGE. Secretary Peter B. Favila Department of Trade and Industry. PHILIPPINE ECONOMIC SCORECARD. GDP growth of 5.6% ( S2 2006) Agriculture 5.2% - Industry 5.1% - Services 6.1% Fiscal performance on track Jan to July 2006 revenue collections up by 20%

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Presentation Transcript
slide1

THE PHILIPPINE ADVANTAGE

Secretary Peter B. Favila

Department of Trade and Industry

slide2

PHILIPPINE ECONOMIC SCORECARD

  • GDP growth of 5.6% (S2 2006)

Agriculture 5.2% - Industry 5.1% - Services 6.1%

  • Fiscal performance on track

Jan to July 2006 revenue collections up by 20%

Deficit is PhP B34.1 lower year-on-year

  • Philippine Peso is one of Asia’s best performing currencies

4-year high bolstered by OFW remittance, exports and portfolio investments

  • Headline inflation continued to ease at 6.5% (as of July 2006)
  • Gross international reserves reached an all-time high at US$21.3B (as of July 2006)
  • Stable and low interest rate environment
slide3

2005 Milestones5.1% GDP growth3.9% Export growth149.8% Net FDI growth

FOREIGN TRADE AND INVESTMENT PERFORMANCE

1st Semester 20065.6% GDP growth16.8% Export growth114.6% Net FDI growth

strong performance continues into 2006 . . .

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Strong export performance is supported by the continuing diversification of merchandise exports …

US$ 22.7B Exports in 1st Semester 2006

Source: DTI-Tradeline (derived from primary NSO data)

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… and the rise of new markets and expansion of trade relations.

EXPORT PERFORMANCE BY REGIONAL BLOCS

Jan-Jun 2006

2000

Source: BETP (derived from primary NSO data)

slide6

FDI flows remain on the uptrend . . .

FOREIGN DIRECT INVESTMENT, net (US$M)

Source: Bangko Sentral ng Pilipinas (BSP)

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. . . and investment approvals signal that the growth trend will continue.Total approved investments at US$ 2B in 1st Semester 2006

BOI-PEZA Approved Investments by Sector

January – June 2006

Sources: Board of Investments (BOI) and Philippine Economic Zone Authority (PEZA)

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POLICY DIRECTIONS

  • Continued fiscal consolidation
  • Countrywide development through the super regions
  • Increased infrastructure spending
  • Clear agenda for competitiveness
  • Reforms for good governance
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Macroeconomic achievements are carried through at the operating level . . .

  • A more responsive government and a business-friendly environment
  • Focus on infrastructure development and competitiveness-enhancement
  • Emergence of new growth industries

Renewed investor confidence

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THE PHILIPPINE ADVANTAGE IN e-SERVICES

  • Location, Location, Location
  • Strategic location in Asia
  • Strong infrastructure support
  • Centrally-located IT parks
  • Supportive Regulatory and Policy Environment
  • Government priority
  • Incentives package
  • Significant Impact on Bottomline
  • Human resource advantage
  • Efficiency and productivity
  • Cost savings – IT personnel, real

estate, telecoms

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Discover

The

Philippine

Advantage!