Taking a long-term view and aiming to “own the market” should be considered by corporate giants looking to invest overseas, a Philippine business tycoon said on Tuesday.
Enrique K. Razon Jr., chairman and president of ports operator International Container Terminal Services Inc. (ICTSI), said investors should consider areas that at first glance are not seen as prime locations.
In particular, “I’m very bullish about Iran, Congo and Cambodia,” Razon said at the ongoing Forbes Global CEO Conference in Manila.
“We’re taking a very long-term view. We’ve learned from past experience. It’s okay to say that if you make investments in bad places right now, over time, you’ll gain without competition,” Razon said.
With this, an investor may “own the market” in the years ahead.
Given current global volatility, however, he warned investors to be picky and not be swayed by rising markets.
“[One] should be extra selective in putting your money [in a particular market]. You should find value in this market, make money in this market,” the ports magnate said.
Razon not only owns port operator ICTSI but also controls casino and leisure firm Bloomberry Resorts Corp. which operates the integrated resorts and gaming complex Solaire Resort & Casino.
For Sam Goi, executive chairman of Singapore-based Tee Yih Jia Group, one should look at a country’s “political stability” before investing.
“[I]n investing, you should observe the development of the country. And the development of a country is its political stability,” Goi said.
Given the fluid nature of politics, he said investors should consider presenting a united stance.
“We can do something which is win-win for everybody. We need to help one another to create a win-win situation,” Goi said.
Touting the Philippines as an investment destination, Finance Secretary Cesar Purisima told the visiting CEOS that next year’s upcoming national elections could be a factor in making decisions.