PH Infrastructure Program Acknowledged by Oxford Business Group
A recent edition of well-known research and consultancy firm Oxford Business Group’s (OBG) The Report: The Philippines shines the spotlight on the country’s Build, Build, Build infrastructure program, President Duterte’s project that seeks to boost economic growth through its ‘decentralization’ agenda.
OBG shared detailed coverage of the country’s construction sector, which is benefiting from rising levels of urbanization and growing demand for both office space and housing in Metro Manila and beyond. Moreover, OBG weighs the merits of the Tax Reform for Acceleration and Inclusion (TRAIN) Law, considering its role in boosting revenue for national projects, its impact on inflation, and the mixed reception it has received so far from business leaders.
OBG’s report also charts the expansion across key components of the Philippines’ manufacturing industry, including electronics, food and beverage, chemicals, and furniture, which helped boost overall output by 8.5 percent, in 2017. Looking ahead, it examines the suitability of the government-led Inclusive Innovation Industrial Strategy (i3S) in raising the competitiveness of the manufacturing sector in an era of rapid technological change.
PHOTO Veejay Villafranca
Other topical issues covered include the constitutional changes currently on the table that could lead to the country adopting a federal system. A special chapter on the Philippines’ regions includes a wide-ranging roundtable, in which mayors from several emerging cities explore the investment opportunities arising outside of Manila.
OBG’s publication contains a contribution from President Rodrigo Roa Duterte, together with a detailed sector-by-sector guide for investors.
Commenting ahead of the launch, OBG’s Editor-in-Chief, Oliver Cornock, said sharpening the focus on the Philippines’ regional areas had set the scene for a new period of investment and enterprise.
“The administration’s goals of making infrastructure development a top priority and ensuring that future economic growth is both sustainable and more inclusive are already generating a raft of new opportunities nationwide, as our coverage of the country’s emerging cities shows,” he said. “With a diverse range of funding options to finance the project pipeline now being pursued, the Philippines should be able to look forward to a period of heightened economic activity in the medium term.”
The Report: The Philippines 2018 marks the culmination of more than 12 months of field research by a team of analysts from Oxford Business Group. The publication assesses trends and developments across the country, including those in macroeconomics, infrastructure, banking and others.
This article was based on a press release from the Oxford Business Group. To view their published reports for 2018, visit oxfordbusinessgroup.com/country-reports.
