Slow Congress count seen hanging over RP prospects

Mr. [Bernardo M. Villegas] said more than any East Asian country, the Philippines badly needs foreign direct investments (FDIs) to attain higher GDP growth rates because it has the lowest savings rate in the region. Given an estimated $60 billion of FDI that went to East Asia, the World Bank noted t...

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Bibliographic Details
Published in:Business world (San Juan, Philippines) Philippines), 2004-06, p.1
Main Author: Jennifer A. Ng and Iris Cecilia C. Gonzales
Format: Article
Language:English
Subjects:
Agricultural production
Budget deficits
Constitutions
Consumption
Economic development
Economists
Equity participations
GDP
Gross Domestic Product
Politics
Presidents
State elections
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Summary:Mr. [Bernardo M. Villegas] said more than any East Asian country, the Philippines badly needs foreign direct investments (FDIs) to attain higher GDP growth rates because it has the lowest savings rate in the region. Given an estimated $60 billion of FDI that went to East Asia, the World Bank noted that a huge chunk went to China and only $6.5 billion flowed to Indonesia, South Korea, Malaysia, Philippines, and Thailand. The Philippines attracted less than $1 billion in 2003. Meanwhile, the NSCB said "The sudden increase in FDI commitments was due mainly to the extremely large approved FDI application from the Republic of Nauru, Japan and the United States.
ISSN:0116-3930