"We have no intention of restricting investments or tourists from China to the Philippines. Everyone is welcome to the country for investments as investors, as tourists," NEDA Secretary Arsenio Balisacan said during the East-West Center International Media Conference yesterday.
Despite recent clashes between Chinese and Filipino vessels in the WPS, Balisacan said "it's in our interest to see peace and prosperity in our region."
He said supply chain disruptions from geopolitical tensions or other shocks like climate change will have a direct or indirect effect on the country.
Should tensions between the Philippines and China further intensify, he said it will impact the country's economic growth, but this will be hard to quantify.
He said where the country may be affected most would be in terms of trade.
"The area where we are most exposed to China is in trade... We are part of the global supply chain," he said.
Special Assistant to the President on investment and economic affairs Frederick Go said Chinese firms remain interested to invest in the Philippines and are confident of the country's growth story.
"I think they continue to do business in the Philippines. The private companies, the private corporations out of China continue to want to invest in the Philippines," Go told The STAR after the Manila Overseas Press Club Investment Night in Makati last Tuesday.
"I think the companies who invest in the Philippines believe in the Philippine growth story. They believe in the attractiveness of the Philippines as an investment destination," he added.
Go said "occasional occurrences" are part of life and would not change the view of businesses with longterm confidence in the country's economic performance.
Denne historien er fra June 27, 2024-utgaven av The Philippine Star.
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Denne historien er fra June 27, 2024-utgaven av The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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PEZA investment approvals plunge 44% in H1
Investment pledges approved by the Philippine Economic Zone Authority (PEZA) in the first semester fell by 44 percent to P45.48 billion from P80.59 billion the same period a year ago.
ERC eyes lower open access threshold as early as 2027
Qualified electricity end-users consuming at least 100 kilowatt hours (kWh) a month may soon be allowed to choose their power suppliers amid plans to lower the open-access threshold as early as 2027.
Gov't debt payments hit P69 B in May
The government jacked up its debt service to almost P70 billion in May with the bulk going to interest payments from both domestic and foreign lenders.
Arriving soon: Cargo rail between Laguna and Albay
Farmers, manufacturers and traders may get a cheaper mode of transportation for their goods by next year, as the Philippine National Railways (PNR) will pursue a P5-billion plan to retrofit the existing line between Laguna and Albay for cargo movement.
New Clark City attracts P143 B investment pledges
The New Clark City (NCC), which is being positioned as an investment hub, has attracted over P143 billion worth of investments, according to the Bases Conversion and Development Authority (BCDA).
Proposed P2.5-M salary delays Maharlika organizational structure
The seemingly high asking salary of state-run Maharlika Investment Corp. (MIC), which could surpass some of the highest paid officials at the Bangko Sentral ng Pilipinas (BSP), caused the delay in the organizational structure of the sovereign wealth fund.
Cuts to bring key rate to 4% in 2025 - Nomura
Risks are skewed toward more policy easing in the Philippines for the next two years as the Bangko Sentral ng Pilipinas BSP) could cut interest rates by 125 basis points this year and another 125 basis points in 2025, Nomura Global Markets Research said.
BALTI BANNERS '24 DRAFT CLASS
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Secret Service probes how gunman got close to Trump
The US Secret Service is investigating how a gunman armed with an AR-style rifle was able to get close enough to shoot and injure former US president Donald Trump at a rally Saturday in Pennsylvania, a monumental failure of one the agency’s core duties.
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