News » PH needs FDI reforms, said World Bank

PH needs FDI reforms, said World Bank

PH needs FDI reforms, said World Bank

The Philippines should speed up the passage of key reform measures to increase foreign direct investments (FDIs) and help the country in its recovery from the COVID-19 pandemic, according to the World Bank.

During a briefing with the East Asia and the Pacific (EAP) press, World Bank president David Malpass stated that the recovery in different countries remains uneven due to the limited access to COVID-19 vaccines, especially for developing economies like the Philippines. He also emphasized the importance of considering legislative changes to attract more FDIs.

Malpass said, “A key part of how countries develop is how to allow businesses to be created and the Philippines has made progress on streamlining some of those processes [that have] been important.”

Various government agencies have been negotiating for changes to the Foreign Investments Act, Public Service Act, and Retail Trade Liberalization Act.

As of April 2021, the current net income of FDIs in the country has more than doubled to $679 million due to “positive investor sentiment on the country’s macroeconomic fundamentals and strong growth prospects”.

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.