The local economy appears to continue gaining momentum as consumption and spending expand further, but banking giant HSBC urged the government to do more to attract investment, particularly in infrastructure—“the bedrock of the Philippines’ growth outlook over the next decade.”

The UK bank stressed that the Philippines’ public-private partnership (PPP) projects need to be accelerated, while more efforts must be taken to counter the deceleration in investment right before an election due to uncertainty surrounding the outcome.

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