Economic outlook, reforms boost Aussie interest in PH
A growing number of Australian companies are becoming interested in investing in the Philippines due to its economic outlook and recently implemented reforms.
During an event marking the Philippines-Australia Friendship Day, Australian Ambassador to the Philippines Steven Robinson said that more Aussie firms are expressing their intent to expand the Southeast Asian country during the past 12 months,
Most of them, stated Robinson, are interested in the agrifood, digitalization, renewable energy, and mining sectors.
The Ambassador explained that this interest is driven by expectations that the country would continue to post a growth rate of over six per cent into the future.
Investors are also eager to locate in the country due to the amendments made in the Retail Trade Liberalization Act, Public Service Act and Foreign Investments Act.
“You’ve got a whole range of reforms that are just taking place that are very significant and I think that paves the way for lots of companies to come here from Australia,” Robinson added.
Currently, Robinson disclosed that there are over 300 Aussie firms that are operating in the Philippines.
