by: Sarah Joson
Tuesday, June 7, 2016 |
During the meeting of the Joint Foreign Chambers (JFC) of the Philippines in Makati City, Rick Santos, President of the American Chamber of Commerce of the Philippines (AmCham), said the Philippines is still the leading market and sweet spot in Asia.
Santos and other joint foreign chamber representatives discussed the reforms lobbied in the seven policy notes that were published last March. Recommendations for the business process outsourcing (BPO), agricultural, and creative industries, as well as infrastructure, mining, tourism, manufacturing, and logistics sectors were indicated in the policy notes.
Santos also said with the upbeat real estate market in the country, they will continue to push for the Real Estate Investment Trust (REIT) law and other improvements in the foreign ownership act to reinforce foreign investment in the country. He added that the Chambers will strive to achieve inclusive growth with the incoming administration.
Moreover, he emphasized that the theme of inclusion is fitting as the new administration steps in and external issues such as tensions rising over the South China Sea, the signing of the Trans-Pacific Partnership, and looming negotiations between the Philippines and the EU over a Foreign Trade Agreement could soon affect the economy.