Global firms’ business optimism in the Philippines for the first quarter of the year is higher than the average Asean rate, a global business survey show.
Grant Thornton’s International Business Report (IBR), a global business survey of 2,500 businesses in 36 economies, showed that business optimism in the Philippines is at 56 percent, higher than Asean’s 45.7 percent.
The Philippine rating is second best among Asean-5, behind Indonesia’s optimistic outlook of 57 percent.
The IBR, however, noted that business optimism of global firms in the Philippines fell in the first quarter of the year from 84 percent in the fourth quarter of last year.
The report explained this follows the global trend with business optimism, which dropped to its lowest in three years.
“A range of external factors will have played their role, not least the volatility we saw in financial markets in the first quarter, which will have knocked sentiment,” said P&A Grant Thornton Chairman and CEO Marivic Españo.
“However, when businesses look internally at their own operations, the outlook is much brighter. Despite the wider uncertainty, many surveyed firms in the Philippines are confident about their prospects for revenue and employment plans,” Españo added.
The survey showed that in terms of revenues, 74 percent of the respondents were looking forward to increasing their revenues, while another 76 percent are optimistic to post higher profits in the Philippines.
Global firms are also bullish in investing in the country both in buildings, as well as in plant and machinery.
About 38 percent said they will increase investments in building in the next 12 months while 48 percent will be investing more on plant and machinery.
International businesses likewise will generate more jobs in the country as 52 percent said they will increase employment in the Philippines.
Furthermore, the IBR noted that among the growth initiatives of global businesses in the Philippines for the next 12 months include increasing investments in marketing, improving sales force effectiveness, and incentive productivity improvements. –Philippines News Agency
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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