The Philippines is one of the top Asean choices for foreign businessmen looking to invest in the region, a senior Jones Lang Lasalle official said.
Chris Fossick, Jones Lang Lasalle managing director for Singapore and Southeast Asia, told The Manila Times that investors were most confident with the Philippines and Vietnam with respect to Association of Southeast Asian Nations economies,
“Business confidence, I suppose … decisions will be based on the ability of the economy to grow in 2016 and the opportunities that it provides,” Fossick said.
He noted that some of the factors investors would be looking at were the availability of the required workforce and the cost of doing business.
“They are looking for people who are productive. Productivity is about the cost and the output so they’re looking for that,” Fossick said.
The Philippines has its workforce advantage, he noted, while Vietnam has trimmed its inflation and debt and also improved its banking system.
“If you look at Asean, Singapore is going to have a difficult 2016. Malaysia is already having a difficult time. And in Indonesia the resource cost down,” Fossick said.
The business process outsourcing sector, he said, would have a large part to play as the Philippines attracts foreign investments.
“I think that’s the biggest driver,” Fossick said.