Pinoy Investments Abroad

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Manila Times
December 14, 2008

[SIZE=4]Invest Heavily Here, Big Businessmen Urged[/SIZE]

by sammy Martin, reporter


[SIZE=3]FILIPINO businessmen should invest heavily in the country in order to generate jobs and not wait for the government to shield the country against the ill effects of the global economic meltdown, economist Benjamin Diokno said over the weekend.

[/SIZE] He challenged Filipinos working abroad to invest their earnings here and be one of the small and medium entrepreneurs who have proven their track records in local business and help fuel the economy by employing their countrymen


“The loss of jobs means loss of income, rising poverty and finally higher incidence of hunger. Unless addressed, the Philippines will be faced with social unrest. For our national leaders, it can’t be business as usual,” Diokno said in a media forum yesterday.


[SIZE=4]He said many Filipino businessmen have invested heavily in neighboring countries and even deposited their money in Switzerland and the Cayman Islands.[/SIZE]


Instead of letting their money sleep in the banks, Diokno said they can use at least the interest of their money to put up business in the country and help fellow Filipinos to get a decent job as well as keep the economy working.


“Unemployment will continue to deteriorate primarily because of some 1.5 million, possibly more, new entrants to the labor force,” he said. “This is on top of the existing 9.5-million unemployed and underemployed Filipinos. Additional pressure will come from returning Filipino workers who have no enough savings to start their own business.”


According to Diokno, the [SIZE=3]Arroyo administration should stop pretending that it is on top of the situation despite the lack of preparation to combat the ill effects of the economic meltdown.[/SIZE]


Diokno’s predicted that the gross domestic product growth will slow to 3 percent next year while the average annual inflation rate will be lower at 7 percent.


Unemployment and underemployment situation will worsen, he added.
“The lower growth in 2009 will be due to weak consumption and private investment. Consumption spending will be less robust because of lower real income [due to deteriorating employment situation] and weak consumer confidence,” he explained.


Diokno expects private investment to be weak, possibly negative, because of uncertainty and weak consumer demand. Firms are also unlikely to invest in new or expanded plants.


“On the supply side, manufactured exports will continue to struggle. The service sector will also slow, especially telecommunications, retail and wholesale trade, real estate sector and banks and financial intermediaries,” he pointed out.


He added that the government should stop saying that the economic storm is coming because it has arrived and as a result, the Philippine economy has slowed sharply from a gross domestic product of 7.3 percent in 2007 to 4.2 percent to 4.5 percent this year. In 2009, the economy is projected to slow further to 3 percent.

The government and the Pinoy rich should heed this call.

[uls]

eto galing sa article above

Diokno expects private investment to be weak, possibly negative, because of uncertainty and weak consumer demand. Firms are also unlikely to invest in new or expanded plants.

^^ isa yan sa mga reason kung baket hindi naglalabas ng capital ang mga rich pinoys

baket ka mag iinvest sa panahon na alam mo mahina o hihina ang economy?

Rich people are very risk averse right now

[jpdm]

Philippine Star

RP among world's top 30 offshoring sites - survey
Updated December 15, 2008 12:00 AM

Research firm Gartner Inc. has chosen the [SIZE=3]Philippines as one of the world’s 30 top offshoring destinations, mostly due to the country’s attractive labor costs.[/SIZE]

According to Gartner, the Philippines was rated as “very good” in terms of cost, along with China, India, Pakistan and Thailand. The same study, however, said the Philippines performed weakly in terms of political stability and economic environment.The Philippine BPO industry employs around 300,000 workers and generates almost $5 billion revenues as of 2007. Industry experts are targeting $13 billion revenues and a million workers in 2010.

The Gartner study said India remains the world’s top offshoring leader but countries such as China, Russia and Brazil are providing credible alternatives. The study also said South America is becoming an attractive proposition for the US, the largest buying market for offshore services, because of the region’s Spanish speaking skills.


Gartner judged the locations on language, government support, labor pool, infrastructure, educational system, cost, political and economic environment, cultural compatibility, global and legal maturity, and data and intellectual property security and privacy.


“The aim of the study was not to rank each country, as every organization will have a different view of which factors are the most important for their needs, but rather help sourcing managers determine which locations are right for their organizations,” said Ian Marriott, research vice-president at Gartner.


Four countries — Northern Ireland, Sri Lanka, Turkey and Uruguay — dropped out of the Top 30 and were replaced by Egypt, Morocco, Panama and Thailand.


The study said the higher-cost locations of Australia, New Zealand and Singapore all led the rating not only in this category, but also for cultural compatibility, global and legal maturity, and data and intellectual property security and privacy, proving that the link between lower risk and higher cost holds true.


Here is the list of 30 countries, by region:

Americas: Argentina, Brazil, Canada, Chile, Costa Rica, Mexico and Panama.


Asia/Pacific: Australia, China, India, Malaysia, New Zealand, Pakistan, the Philippines, Singapore, Thailand and Vietnam.
Europe, the Middle East and Africa (EMEA): The Czech Republic, Egypt, Hungary, Ireland, Israel, Morocco, Poland, Romania, Russia, Slovakia, South Africa, Spain and Ukraine.

Invest na rito!

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PNB-Allied of Lucio Tan now wants to earn from Chinese remittances...

PNB-Allied Eyes Chinese Remittances


Business Mirror
August 13, 2009
by Eric de la Cruz, reporter


PHILIPPINE National Bank (PNB) and Allied Banking Corp. on Thursday formally became the first local banking group to own a locally incorporated bank in China—the world’s third-largest economy—with their acquisition of a combined 90-percent stake in Xiamen-based Allied Commercial Bank (ACB).


PNB and Allied, both controlled by beer-and-tobacco magnate Lucio Tan, expect the investment initiative to boost their remittance business worldwide. Their branches all over the world will facilitate remittances of foreign-based Chinese nationals to their homeland.


For ACB, the increased capital paves the way for its expansion beyond its head office in Xiamen and branch in Chongqing, and the offering of a wide range of products and services that will put it in direct competition with domestic Chinese banks.

[jpdm]

Perhaps these guys have substantial investments abroad:




Lucio Tan, Henry Sy, Jaime Ayala

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This guy too!



By EDMER F. PANESA – Presidential son and Pampanga Rep. Juan Miguel “Mikey” Arroyo said Tuesday that a hefty portion of his wealth – with which he was able to acquire a residential house worth $1.32-million (roughly P63.7 million) in California – came from wedding gifts and campaign contributions.

[uls]

all the local rich have money and other assets abroad

no local rich in his/her right mind will maintain all his/her wealth here

the Phil. govt isnt exactly stable

everyone has an exit strategy in case something bad happens (like a military coup or something)

they will just go abroad

they have houses and/or condos abroad

they have bank accounts in foreign banks

they can easily live abroad for years

then come back when things get better