The Philippine EconomyEssay Preview: The Philippine EconomyReport this essayThe Philippine economy has continued to grow since President Ramos took over the presidency. President Ramos was driven by his dream to make the Philippines as one of the fastest growing countries in Asia. He did not fail in achieving his goal for the country, since the Philippines was able to attract investors to bring in money into the economy. This resulted to an increased capital investment in the country, allowing the Philippines to be labeled as the Tiger Economy of Asia. This makes the Philippines an attractive venue for foreign and local investors, despite the current situation of the Thai currency. This is also the perfect time for investors to engage in projects that would result to higher returns in the future, as they would be able to capture all the benefits during the upswing of the economy. During a period of low economic activity, current investors may adopt the “wait and see attitude”, while risk-taking investors would consider investing in the country since the Philippines is believed to endure crisis due to its fast growing economy and live up to its label as the Asias Tiger Economy.
Reforms in the areas of trade and investments were being implemented by the government. Also, deregulation of the different products and services market (including the financial market and telecommunications sector) were given priority, since the government believes that this is the right time for these sectors or market to grow and develop. Because of the countrys strong economy, the Philippines became more attractive to foreign creditors, and this is seen to extend for a long period of time. For the telecommunications industry, there is a large market that has not yet been reached by the existing infrastructure, thus an opportunity for the new market players (which are relatively few) to capture this untapped market. And a carefully planned strategy will enable a company such as Globe to capture the benefits from this opportunity.
{articleDateId=”13407716″ title=”Lang de-dolm [Bao Dominguer] (The Philippines, 1995)”>In this article, Globe offers a perspective on the economic developments of the late 1990s, the rapid development of the consumer goods sector, and the strategic importance of this industry in the Philippines in the international sector. Globe’s analysis emphasizes the significance of the new opportunities and challenges related to the expansion of the sector, and the importance of the new economic trends with the onset of the new administration of President Duterte (1997-98). Also discussed are the significant factors the sector should be prepared to meet in the second half of the 21st century.
{articleDateId=”13407729″ title=”Lang de-dolm [Bao Dominguer] (The Philippines, 1996)”>During the previous five years, the market development of the Philippines, and particularly of the consumer goods sector, has been a central feature of the country’s economic well being.
- Under President Duterte, the development of retail and consumer goods was a major factor in our rapid growth, which was achieved through deregulation, the development of infrastructure with rapid growth in scope, and the establishment of a National Market Strategy to accelerate the development of the Philippine industry.
{articleDateId=”13407770″ title=”Lang de-dolm [Bao Dominguer] (Malaysia, 1995)”>During the last seven years, the industry is still a major source of growth in the country. One could argue that this has largely been thanks to the government’s decision to bring investment to the market, but there has been also a significant effort to attract talent and increase the number of jobs.
{articleDateId=”13407772″ title=”Lang de-dolm [Bao Dominguer] (Malaysia, 1996)”>This is where the economic and social challenges come to the fore for the country. The government of President Rodrigo Duterte’s administration failed to take a close look at the challenges associated with manufacturing the country and was unprepared for the market potential of the local economy.
{articleDateId=”13407773″ title=”Lang de-dolm [Bao Dominguer], (Malaysia, 1995)”>The government is aware of the success of the new industries and the potential of the local economy.
{articleDateId=”13407778″ title=”Lang de-dolm [Bao Dominguer], (Malaysia, 1996)”>The growth of domestic industry and its implications for the development of the market in the Philippines is significant in that it provides an opportunity for foreign investors to leverage the country’s growth capabilities. In this regard, the government’s announcement of the new regulatory framework as well as the need for increased public engagement in various aspects of the regulatory framework have contributed to the growth of domestic industries in the Philippines and helped to facilitate the development of domestic market in the Philippines.
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