2014 Trade and Investment Profile
The Philippines is among the fastest-growing economies in Southeast Asia, with upgrades to sovereign investment ratings confirming improvements in the country’s macroeconomic fundamentals. The Government has defined its development objectives as driving rapid but inclusive economic growth, accelerating employment on a massive scale, and reducing poverty.
The economy has weathered global economic and financial downturns better than its regional peers due to minimal exposure to troubled international securities, lower dependence on exports, relatively resilient domestic consumption, large remittances from four- to five-million overseas Filipino workers, and a rapidly expanding business process outsourcing industry.
Long term challenges include reforming governance and the judicial system, building infrastructure, improving regulatory predictability, and the ease of doing business, attracting higher levels of local and foreign investments.
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