20 June 2017—Philippine Ambassador to Malaysia Charles C. Jose gave a presentation on trade and investment opportunities in the Philippines in a joint Rotary Club meeting on June 14.
Around 100 Rotarians from 19 Rotary Clubs in Kuala Lumpur and adjoining areas were present to listen to Ambassador’s Jose’s talk on business and investment opportunities in the Philippines, as well as on the country’s economic growth and the reasons behind it. The meeting was hosted by Rotary Club-Ampang.
“The Philippines has now become one of the most viable, most attractive investment destinations in the region, due in part to the country’s continuing robust economic performance and its innate resilience in the face of global economic uncertainties. Despite various man-made and natural disasters it faced, the Philippines, like its people, maintained its economic resilience, and in fact, grew. The UN Council for Trade and Development (UNCTAD) made a survey among businessmen and the Philippines was ranked seventh most promising investment destination among developing and developed countries for 2017 to 2019,” he said.
“Despite global economic uncertainties and its various natural calamities, the Philippines continues to exhibit positive economic growth, backed by organizations and credit ratings agencies, which gave a seal of approval on the country’s competitiveness and credit worthiness. In line with this, it also has a clear comprehensive economic agenda as set out by the Duterte administration and linked to a long-term strategy. It boasts of a strategic location at the heart of the ASEAN region, with a skilled and educated population and a wide consumer base,” Ambassador Jose added.
The Ambassador also invited delegates to consider the Philippines as their next investment destination and outlined the business-related activities for the year, especially those in line with the country’s ASEAN chairmanship.
The Philippines and Malaysia share a strong two-way trade, investment and tourism partnership. As of December 2016, Malaysia was the Philippines’ 10th largest trading partner, with total trade amounting to US$430.21 million. Philippine exports to Malaysia are valued at US$ 130.92 million and imports at US$299.29 million.
Between 2014 to the first nine months of 2016, Malaysian investments to the Philippines reached US$73.02 million, mostly in construction, finance, real estate, manufacturing, mining, private services, trade, and transportation.
Malaysia is the Philippines’ 10th major tourist market for 2016, with 139,133 Malaysian tourists visiting the Philippines for the period; on the other hand, 417,446 Filipinos visited Malaysia for the same period, making the Philippines the eighth major source of tourists for Malaysia. END