MANILA – Now is the time for foreign investors to invest in the Philippines, according to SM Investments Corp. (SMIC) vice chair Teresita Sy-Coson.
Speaking at the 14th Forbes Global CEO Conference in Singapore, Sy-Coson strongly advised foreign investors to set their sights on the Philippines, which has registered an average of 5-percent growth in gross domestic product (GDP) over the last five years.
“We have had a remarkable improvement in governance. Our population is young (between the ages of 21 and 35) with a huge earning capacity and a large overseas Filipino working base that consistently send remittances to their families. This, in turn, helps our economy,” she said.
“The Philippines is unique and it needs to be looked at with a long-term view longer than a 2- to 3-year window. Given that we are a strong service-oriented economy, the BPO industry is a natural fit,” Sy-Coson added.
She stated her prognosis that “as a domestic investor, I am very optimistic. There is a lot of liquidity for our size in the Philippines. If you look back at the country’s economic history, we have had steady growth.”
The panel discussion on “Profit for Tomorrow’s Growth” was moderated by Rich Karlgaard, publisher of Forbes Magazine.
Throughout the course of the discussion, participants analyzed and shared their insight on investment and wealth opportunities in Asia. They also touched on the impact of technology and geopolitical tensions in the region.
The gathering marked the 14th year of the Global CEO Conference. Dubbed “The Next Horizon,” this year’s conference was attended by business magnates, entrepreneurs, and persons of influence in the business sector from over 31countries.
Aside from Sy-Coson, members of the Philippine delegation included Enrique Razon of International Container Terminal Services Inc. (ICTSI), Manuel Villar Jr. of Starmalls Inc. and Josephine Gotianun-Yap of Filinvest Development Corp. and the Antonio family of Century Properties.