PH is seen as ASEAN’s fastest growing economy

By , on March 23, 2017

Photo: Brian Evans/
Photo: Brian Evans/

Regional investment powerhouse Maybank Kim Eng Group predicted that while Southeast Asia continues to evolve into a fertile ground for investors, the Philippine economy will continue to develop as one of the fastest in the region.

In a forum in Singapore on Tuesday, the investment powerhouse predicted that the six core markets namely: Malaysia, Thailand, Singapore, Vietnam, Indonesia and the Philippines will grow to an average 4.8 percent compared to its 4.6 percent finish last year.

First Metro Investment Corp-University of Asia and the Pacific (FMIC-UA&P) Capital Markets Research also stated that although inflation is a downside of the country, the Philippine economy is predicted to sustain its 6.5 percent growth in the first quarter. The think tank also stated that the Philippines’ inflation is bound to be stabilized to just above 3 percent this year.

This improvement can only be attributed to the outpour of investments coming into the country, generating employment and more consumption spending. Overseas remittances and revenues generated from the business outsourcing industry still remain as the two major supports of the economy.

In an Investor Sentiment Index survey by Manulife, 92 percent of investors in the country expects that the next six months will be “neutral” to a “good time” to invest in equities.