One of the leading news outlet worldwide Bloomberg News reported that the investment boom in the Philippines leaves Neighbors in the dust. The Philippine economy's physical assets surge more than 10% on year earlier due to Pres. Duterte's plans to boost spending to a record in 2018.
According to Bloomberg the Capital Investment in the Philippines is surging past the rest of Southeast Asia as the government and private firms ramp up spending. The physical assets in the first nine months of 2017 grew 10.4% from a year earlier which is way up compared to the 6.9% increase in Malaysia and 5.8% gain in Indonesia.
Bloomberg also noted that there's reason to remain bullish on the outlook of the Philippines because the administration of Pres. Duterte jumped 28 percent in government spending, and with another record budget planned for 2018.
Aside from the national government, private companies are also joining in investment spending with Metro Pacific Investments Corp. planning to invest as much as $16 billion through 2022 on road, water, and power projects, while Ayala Land Inc., is boosting capital spending to a record 2$ billion next year.
The tough talking President of the Republic, Pres. Rody Duterte is building a network of railroads and highways across the archipelago in an ambitious $180 billion infrastructure program.
For the past few decades, after lagging behind their neighbors in Southeast Asia, the Philippines is catching up with growth in net physical assets. Pres. Duterte wants to transform the Philippines into an upper-middle income country by the end of his term in 2022, and the cornerstone of his vision is a plan referred to as "Build, Build, Build." It includes the capital's first subway and a 653-kilometer railway in Mindanao.
According to Bloomberg the Capital Investment in the Philippines is surging past the rest of Southeast Asia as the government and private firms ramp up spending. The physical assets in the first nine months of 2017 grew 10.4% from a year earlier which is way up compared to the 6.9% increase in Malaysia and 5.8% gain in Indonesia.
Bloomberg also noted that there's reason to remain bullish on the outlook of the Philippines because the administration of Pres. Duterte jumped 28 percent in government spending, and with another record budget planned for 2018.
Aside from the national government, private companies are also joining in investment spending with Metro Pacific Investments Corp. planning to invest as much as $16 billion through 2022 on road, water, and power projects, while Ayala Land Inc., is boosting capital spending to a record 2$ billion next year.
The tough talking President of the Republic, Pres. Rody Duterte is building a network of railroads and highways across the archipelago in an ambitious $180 billion infrastructure program.
For the past few decades, after lagging behind their neighbors in Southeast Asia, the Philippines is catching up with growth in net physical assets. Pres. Duterte wants to transform the Philippines into an upper-middle income country by the end of his term in 2022, and the cornerstone of his vision is a plan referred to as "Build, Build, Build." It includes the capital's first subway and a 653-kilometer railway in Mindanao.
Source: Bloomberg
Bloomberg: An Investment Boom in the Philippines Leaves Neighbors in the Dust
Reviewed by Phil Newsome
on
November 30, 2017
Rating:
Reviewed by Phil Newsome
on
November 30, 2017
Rating:
