"Philippines now a good value proposition – Tetangco"

[ghosthunter]

Philippines now a good value proposition – Tetangco
TINO PAMINTUAN March 6, 2012 7:26pm


Riding on governance reforms, the Philippines is attracting the confidence of foreign and domestic investors, the country’s economic managers told reporters in a briefing Tuesday.

Big investors are coming in this year, officials said, citing a host of reasons why investments will soon be pouring into the country that has always played the sick man of Asia in political and economic terms.

“Today, the Philippines is a good value proposition for investments, both domestic and foreign,'' said Bangko Sentral Gov. Amando Tetangco Jr.

Government's commitment to good governance helped improve trust and build confidence among investors to do business in the Philippines, according to the central bank chief.

Philippine bureaucracy is now more transparent, Tetangco noted.
“We have made the economy structurally fit to enable it to sustain its gains,” he said.

Infrastructure spending to pump prime the economy, robust consumer spending and a stable banking system have kept the economy growing, he added.

SOURCE: Philippines now a good value proposition – Tetangco | GMA News Online | The Go-To Site for Filipinos Everywhere

[ghosthunter]

I think someone is breathing their own farts....

[zap.FREEDOM]

I guess, they just day dreaming.

BUREAUCRACY is now more transparent? Oh, c'mmon, nung isang araw lang e yan ang pinag-uusapan namin ng prof. ko sa business opportunities subject e, where's the transparency in that aber? my prof told me a story when he was applying for a business permit for his multi-million venutre e di talaga maiiwasan ang maglagay para mapabilis.

"Infrastructure spending to pump prime the economy" ah kaya pala putol-putol yung mga kalsadang pinasesemento dito samin, palaging bitin.

[uls]

really?

let's see...

FDI Declines 38.5% In November | The Manila Bulletin Newspaper Online

MANILA, Philippines — Foreign direct investments (FDI) registered by the Bangko Sentral ng Pilipinas (BSP) for the first 11 months of 2011 amounted to net inflows of $782 million, 38.5 percent lower year-on-year.

FDI inflows cover equity capital, reinvested earnings and “other capital” or inter-company loans of foreign corporations or foreign investors with at least 10 percent ownership in a domestic firm or investment venture.

For the 11-month period, equity capital from these FDIs declined 71.9 percent from $477 million in 2011 to $134 million.

Net FDI inflow down 39% - The Philippine Star » News » Business

MANILA, Philippines - Foreign direct investments (FDI) recorded a net inflow of $782 million in the first 11 months of last year, nearly 39 percent lower than the previous year’s $1.272 billion, the Bangko Sentral ng Pilipinas (BSP) reported over the weekend.

For November alone, FDIs posted a net inflow of $53 million or about 83 percent lower than the November 2010 inflow of $304 million.

PHL Likely to Miss FDI Target Anew - JFC

The Philippine government failed to meet the foreign direct investment FDI target set by the Joint Foreign Chambers (JFC) in their Arangkada Philippines roadmap last year.

Worse, the foreign chambers believes the government will also miss the target this year.

The Arangkada Philippines lists recommendations by the JFC in order to help the country move twice as fast in order to attain economic growth.

When the JFC launched the Arangkada Philippines in 2010, they said the Philippines will be able to get $75 billion worth of FDIs by 2020, if only the government follows the recommendations in the Arangkada Philippines study.

Based on this, European Chamber of Commerce of the Philippines (ECCP) president Hubert d' Aboville said the Philippines must get $7.5 billion worth of FDIs annually.

However, he said based on the latest Bangko Sentral ng Pilipinas (BSP) data, the full year FDI of the Philippines will be below $1 billion. Available data showed that FDI is only at $850 million.

from the article posted by GH:

Big investors are coming in this year, officials said, citing a host of reasons why investments will soon be pouring into the country that has always played the sick man of Asia in political and economic terms.

a ok... will soon be... hahahaha

meanwhile let's check out a competitor

Foreign Direct Investment in Indonesia Soars - WSJ.com

Foreign direct investment into Indonesia surged to a record last year in the latest sign of rising global interest in Southeast Asia's largest economy.

The data indicates Indonesia is emerging as a more serious regional competitor as Asian economies compete for foreign investment, especially at a time of weakening economic growth. The investment news came a day after Moody's Investors Service became the second major ratings firm to lift Indonesia's debt rating to investment-grade status, a move that is expected to make it easier for Indonesia to attract foreign capital.

Foreign direct investment in Indonesia grew 20% last year to 175 trillion rupiah ($19.3 billion), the country's Investment Coordinating Board said Thursday. At that rate, Indonesia now appears to be significantly outpacing many other Asian countries that used to easily surpass it in drawing foreign money, such as Thailand. China still attracts much more, with $116 billion in FDI in 2011.

$19.3 billion. the Philippines couldnt even get a billion

good value proposition? oookaaay...

[uls]

I think someone is breathing their own farts....

they think the locals are all idiots

[uls]

Vietnam FDI $1.2B first 2 months of this year

first 2 months palang yan

Vietnam attracts US$1.23 billion from FDI in first 2 months of '12 - The China Post

HANOI -- Vietnam attracted US$1.23 billion from foreign direct investment (FDI) in the first two months of 2012, US$910.9 million of which came from 65 newly licensed projects and US$320 million from 25 expanded projects, a year-on-year decrease of 45 percent and 48 percent respectively, the local Vietnam Economic Times daily on Wednesday.

Quoting figures from the Ministry of Planning and Investment ( MPI), the daily said the processing and manufacturing sector lured US$994.29 million, of which US$683.77 million came from 26 new FDI projects, and US$310.52 million from 21 expanded projects.

Japan took the lead among FDI investors in Vietnam with newly registered and expanded investment of more than US$1 billion.

[Monseratto]

Not bad to dream, but best to keep it to himself. Cuz with no statistic to prove his point, Tetangco is making "GAG*" of himself...WAAAH!

[uls]

to be fair, the local stock market is Asia's best performer. but that's portfolio money. it can leave anytime. what's needed is FDI

the Phils. attracts very little FDI compared to other ASEAN countries

[chua_riwap]

open na rin ang myanmar.

masaklap, in the long run, baka maunahan pa rin tayo ng myanmar.......

[rockiee_s]

[uls]

is that a sell indicator?

hehe

[rockiee_s]

owners of all casinos here in macau just visited manila and all plan to be part of entertainment city. that means they really see a big future in the philippines.

[Monseratto]

Parang repost lang yung video sa taas...

http://tsikot.com/forums/politics-ec...etangco-86507/

[uls]

owners of all casinos here in macau just visited manila and all plan to be part of entertainment city. that means they really see a big future in the philippines.

know why?

coz everybody saw the success of Resorts World

aside from that, it's a matter of taxes

mataas ang taxes sa Macau

mas mababa dito

[rockiee_s]

and we hope that with the new casinos/hotels coming up, it will do wonders with our economy.

look at macau. sobrang ganda ngayon. and every year, they have excess money in their treasury kaya ang sobra, dinidistribute sa lahat ng citizens.

[timrev]

Bloomberry raises P8.85 billion for casino-resort project

MANILA, Philippines - Razon-led Bloomberry Resorts Corp. has raised P8.85 billion (approximately $210 million) through a top-up offering overseas to help fund its multi-billion peso resort and gaming complex along Roxas Blvd.

In a disclosure to the Philippine Stock Exchange, Bloomberry said it sold 1.18 billion shares at P7.50 each, the mid-point of the indicative price range of P6.55 to P8.25 a piece.

Bloomberry’s underwriters have set aside around 117.996 million shares for the overallotment option.

The company is expected to generate a total of P9.73 billion should the greenshoe option be exercised.

The shares were crossed at the PSE yesterday. Investors sold down shares of the company, resulting in a 25-percent drop in its share price to P9.01 yesterday from P12 Monday.

Under the top-up scheme, port magnate Enrique Razon’s Prime Metroline will lend some secondary shares of Bloomberry for sale to institutional investors but will buy the same number of shares to be issued by Bloomberry in the future.

CLSA Ltd. and UBS AG were tapped as joint global coordinators, bookrunners and lead managers for the placing transaction.

Bloomberry has granted Nevada-based casino operator GGAM the option to buy up to 921.18 million shares equivalent to 9.91 percent at P1 per share plus $15 million. The option will expire if not exercised by the date of commercial operations of Bloomberry’s $1.2-billion Solaire Manila project in Pagcor Entertainment City.

GGAM will provide planning, technical and other advisory services to the Solaire Manila project during its construction and fit-out stage. It will also provide management services when Solaire Manila commences commercial operations.

Proceeds from the offering will be used to develop the first phase of Solaire Manila, the first casino complex to rise in Pagcor’s Entertainment City, which is targeted for completion in the fourth quarter this year.

Phase 1 of the project, estimated to cost $650 million, covers 180,000 square meters of floor area, which includes a hotel tower, three levels of podium that has the ballroom/convention facilities, gaming areas, restaurants, retail shops, and health and wellness facilities. A 10-story parking building will also be constructed.

The complex is targeted for a grand opening in the first quarter of 2013.

[timrev]

Solaire Manila (Parañaque City)

Integrated Entertainment Resort Complex

Located within the Bagong Nayong Pilipino Complex, Parañaque City, the Solaire Manila project is a world class integrated resort complex which includes a five-star, 500-room hotel covering some 165,000 square meters of floor area.

The Entertainment City project features an integrated resort facility including a five-star, 500-room hotel covering an area of 8.3 hectares. It will also feature a state of the art meeting and convention and ballroom venues, restaurants as well as health and wellness facilities.

The complex will also feature state of the art meeting and convention facilities as well as relaxation and leisure facilities such as a live performance theater, an array of restaurants, health and wellness facilities.
Phase I of the Project is a 14 storey building complex with an 11 storey hotel on top of a 3 level podium, and a 10 storey parking building with an 11th floor for machines and equipment.

The Phase I hotel, restaurants, retail, recreation and back-of-house facilities will occupy approximately 73,484 sq. meters.
The casino and gaming area will occupy approximately 22,268 sq. meters.
It will have 27,700 sq.m. of gaming area that will hold 1,200 slot machines and 300 gaming tables. It will also have 500 hotel rooms and food and beverage outlets, including a 240-seat Chinese restaurant, 149-seat American steakhouse, 146-seat Japanese restaurant, 120-seat Italian restaurant, 250-seat international buffet/coffee shop, 176-seat noodle shop, and 216-seat food court and 66-seat lobby bar.
Ample parking is provided through the 10-storey, 3,000 slots, parking building.
It will also have a 1,000-seat grand ballroom, spa and fitness center, and bayview promenade.