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OECD Investment Policy Reviews: Philippines 2016

image of OECD Investment Policy Reviews: Philippines 2016

This review assesses the overall investment climate in the Philippines, looking at investment policy, investment promotion and facilitation, competition policy, infrastructure investment and responsible business conduct. The Review documents successful reform episodes over the past 25 years in the Philippines, assesses their impact and suggests areas for further reforms. It looks at how to raise investment levels by both foreign and domestic enterprises and at how to ensure that such investment contributes to sustainable and inclusive growth. The current macroeconomic situation in the Philippines is favourable, remittances are high, the business process outsource industry is booming, and the new Competition Act will help to make the domestic market more competitive. The Review argues for one further reform push to ease the many restrictions on foreign investors in the Philippines so as to provide an investment climate where all firms can invest and grow.

English

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Preface

The Philippine economy has sustained strong growth despite a general slowdown in the global economy. Fuelling this expansion were remittances, direct foreign investments, a robust business process outsourcing industry and the resurgence of manufacturing. We also attribute this positive outcome to the economic reforms implemented in the past six years. Improving transparency in government, the easing of red tape and regulations, and the creation of industry policies that encourage healthy competition, have also helped establish a sound investment climate in the Philippines.

English

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