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December 13th, 2013 10:40 AM #1
Who said the Philippines is not competitive vis-a-vis Asian and ASEAN competitors? Here is the JETRO report...
Philippines becoming investment magnet in ASEAN – Jetro
by Raymund F. Antonio
December 12, 2013
Tokyo, Japan – The Philippines is outpacing Southeast Asian neighbors in attracting Japanese investments, with the usual challenges of putting up businesses a thing of the past.
While other Southeast Asian countries face a number of challenges, two main constraints in the Philippines are “difficulty in local procurement of raw materials and lack of employees,” said Isamu Wakamatsu, director of the overseas research department (Asia and Oceana) of the Japan External Trade Organization (Jetro).
Other members of the Association of Southeast Asian Nations (ASEAN) face other problems like wage issues and low quality of employees.
Jetro is a government-related organization that promotes mutual trade and investment between Japan and the rest of the world.
Wakamatsu said wage issue is the number one concern of Japanese investors planning to put up businesses in Vietnam, Thailand, Indonesia and Malaysia.
“The new trend is (that) Japanese investment is growing in the ASEAN,” Wakamatsu said.
In the past, the Philippines lagged behind ASEAN neighbors in attracting Japanese investments but recent robust economic development as well as a strong economic foundation is changing that.
Based on statistics, there will be a slowdown of Japanese investments in Thailand and Indonesia, Wakamatsu said.
As for the Philippines, the prospects “will continue in a high level,” he said.
Wakamatsu’s observation echoed a separate survey conducted last year on Japanese expatriates which rated business challenges in Asia.
In the Philippines, top two issues were mentioned: difficulty in procuring raw materials and lack of employee performance.
By comparison, the main challenges in Malaysia are wage increase, operational costs and quality of employees. In Thailand, the challenges are: wage increase, competitors’ market share are growing; lack of employee performance; difficulty in hiring executive staff and high prices.
In Indonesia, wage issues, competition, difficulty in hiring qualified staff and quality of employees are the main concerns. In Vietnam, wage increase, lack of raw materials, red tape, legal problems, tax procedures and lack of quality bug potential investments.
The survey also showed the Philippines beating China and India in all departments, with wage increase, high operational costs, and quality of employees among the many concerns.
Available data from select countries show that labor restiveness remains high but this has gone down in the Philippines.
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Tsikoteer
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December 13th, 2013 12:27 PM #2Can anyone please tell this to the people who are selling down the stock market...pula na naman
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December 13th, 2013 01:16 PM #3
foreign fund managers look at charts. they watch the Fed. they watch interest rates. they watch forex
they don't really care about some research thing done by jetro
foreign funds come in with dollars, convert to pesos, buy local stocks
when they take profits they convert pesos back to dollars
dollar demand drives the dollar higher
as the peso weakens foreign funds get less dollars with their pesos
so they dump more stock before the peso weakens even further which drives the dollar even higher
negative feedback loopLast edited by uls; December 13th, 2013 at 01:22 PM.
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December 13th, 2013 02:04 PM #5
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December 13th, 2013 02:40 PM #7
our FDI(Foreign Direct Investment) is still crap compared to our neighbors
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Verified Tsikot Member
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December 17th, 2013 03:34 PM #8The Japs are definitely on their way back. I was with an old Japanese a few months back when we had a few exchanges while waiting in line. He has lived in the Philippines for 30 years. His business is industrial real estate brokerage for Jap companies in the Phils. He mentioned to me that the demand was going up because of the same reasons mentioned above. The statement that struck me most was the comparison in talent. He said that, for Filipinos the Japs just had to hand them manuals to read and they'll be on their way. For other nationals, they'd even spend on training and all but won't get the same results. Language was another factor. Cost is also another.
The money coming in may appear to be in trickles, but there are good amounts already here, and there is more raring to get in. Literally, the flood gates are about to burst, if only we had more companies, more entrepreneurs and an efficient government that supports business. We need more entrepreneurs because its the same oligopolies who are cornering the businesses. Businessmen don't like that. If you've been dreaming of putting up your business, then now is a good time to set-up.
I hope that our politicians and government officials realize that integrity pays better dividends than staying corrupt. There is so much improvement to be made in the government sector in ensuring a favorable and sustainable business climate.
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December 17th, 2013 08:11 PM #9
Speaking of Japanese investments...
Aquino back from Japan with ‘overflowing good news’
By Christian V. Esguerra
Philippine Daily Inquirer
6:12 am | Monday, December 16th, 2013
(edited)
MANILA, Philippines—President Aquino returned home Sunday, bringing with him what he called “overflowing good news” of investment pledges, aid and loans from Japan.
The President was particularly upbeat over one Japanese company that indicated it would infuse up to $300 million in fresh investments to “expand its existing operation in the Philippines.”
The President declined to name the companies, but said the amount of investments they planned to put into the country was “no joke.” He cited one firm that was set to build a manufacturing plant and a research and development facility.
“I won’t reveal all the details now because they might be forestalled (baka tayo mausog),” he said. “Let’s just wait for my participation in their groundbreaking ceremonies so we would know these companies.”
Among the companies Aquino visited in Tokyo were Sumitomo Metal Mining Co., Mitsubishi, Sumitomo Mitsui Banking Corp. and Nidec Sankyo Corp. He also sat down with officials of Nippon Keidanren, the biggest association of companies in Japan.
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December 18th, 2013 02:06 PM #10
8 Japan firms eye investments in Phl
By Louella D. Desiderio
(The Philippine Star)
Updated December 18, 2013
MANILA, Philippines - At least eight Japanese companies are considering making an investment in the Philippines given the country’s positive economic conditions, the Trade department said.
Trade Secretary Gregory Domingo said in a text message that more than eight Japanese firms expressed interest to invest here during his visit to Tokyo for the Association of Southeast Asian Nations (ASEAN) – Japan Summit last week.
“Many indicated (interest to invest) from power to plastic molded parts, to banking to auto and more,” he said.
Domingo, however, did not reveal which Japanese firm had expressed interest in investing.
The Philippines is being seen as an attractive destination for investments by Japanese firms and other foreign companies amid its favorable economic conditions, good governance efforts and available skilled work force.
To sustain and make the Philippines’ economic growth more inclusive through the creation of more jobs, the Department of Trade and Industry is actively promoting the country as an investment destination.