Government urged to do more to attract foreign investors

Published by rudy Date posted on September 20, 2009

MANILA, Philippines – The National Economic and Development Authority (NEDA) urged the government to exert more effort to attract investors, saying that the global financial crisis has slowed down foreign direct investments coming into the country.

Dennis Arroyo, director of NEDA’s National Policy and Planning Staff (NPPS), said the government needs to work more to make the Philippines more conducive for businesses.

“We have to work double time in addressing the negatives, that is why investors do not easily pick the Philippines,” Arroyo said during the press launch of the World Investment Report (WIR) 2009 of the United Nations Conference on Trade and Development (UNCTAD) last week.

He noted that investors have had the same concerns as they have in the past, including ease of doing business, corruption and governance, high cost of utilities like power, infrastructure and peace and order.

At the same time, Arroyo warned that “shocking events or news” turn off investors and dampen their interest.

“We must address these issues,” he noted.

Arroyo, who was also the presenter of the WIR, said that sectors driving growth in the next couple of years, which investors could also look into, are business process outsourcing (BPO), mining, tourism and renewable energy.

“The BPO sector continues to grow and has been resilient. There is a high global demand in the mining sector as seen in the higher prices of metals around the world. In tourism, we have the natural attractions. Now, we are spending on infrastructure in the Central Philippines region. It is also good to invest in renewables because of the passage of the law on renewable energy. We see more investments coming in at least in biofuels. I want to see investments in ocean wave power. As an archipelago we have access to a long coast line, so we should be investing more in wave power,” Arroyo said.

Meanwhile, in the WIR that he presented, Arroyo reported that the current crisis prompted the global slowdown in FDIs.

“Global FDI flows have been severely affected worldwide by the economic and financial crisis. After falling 14 percent in 2008 to $1.7 trillion, they are expected to fall further to below $1.2 trillion in 2009, recover slowly in 2010 and gain momentum in 2011,” he said.

The value of cross-border mergers and acquisitions (M&As) declined by 35 percent in 2008 to $673 billion. Greenfield investments, he added, were strong in 2008 (reaching 15,551 deals), though their number fell sharply in early 2009.

Cross-border M&As are defined as the joining of two firms or the takeover of one firm by another when the parties involved are based in different national economies. –Iris C. Gonzales (The Philippine Star)

July 2025

Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”

Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.

Accept National Unity Government (NUG)
of Myanmar.  Reject Military!

#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos

Time to support & empower survivors. Time to spark a global conversation. Time for #GenerationEquality to #orangetheworld!

July


3 July – International Day of Cooperatives
3 Ju
ly – International Plastic Bag Free Day
 
5 July –
World Youth Skills Day 
7 July – Global Forgiveness Day
11 July – World Population Day 
17 July – World Day for
International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons 


Monthly Observances:

Schools Safety Month

Nutrition Month
National Disaster Consciousness Month

Weekly Observances:

Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week

 

Daily Observances:

First Saturday of July:
International Cooperative Day
in the Philippines

Categories

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.