Foreign Investments Seen Coming after the Elections
Byline: FIL C. SIONIL
The level of foreign direct investments and portfolio investments for this year have been projected to improve substantially, but, only after the presidential election scheduled in May.
According to Bangko Sentral ng Pilipinas (BSP) Deputy Governor for banking services, research and treasury Amando M. Tetangco, Jr., inflows on both foreign direct investments and portfolio investments otherwise known as FDI and hotmoney, respectively, will be bigger after the new leader of the country has been known.
Tetangco stressed, however, that this situation is just as normal, considering that most of the foreign investors, particularly foreign fund managers take the sidelines while there is tension in the political situation in the country due to election.
After the May presidential elections next year, Tetangco disclosed the BSP assumed a recovery in the level of FDI, particularly during the second semester, to grow by more than 800 percent to $943 million from roughly $100 million assumed for 2003.
The inflows are part of the commitments earlier made by existing foreign investors in the country to expand their operations here, Tetangco explained the BSP's assumption.
The estimate includes the expansion programs of Texas Instruments, a locator in the economic zone in Baguio City and Federal Express, a locator in the former Clark Airbase.
"The expectation is there will be …
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Publication information: Article title: Foreign Investments Seen Coming after the Elections. Contributors: Not available. Newspaper title: Manila Bulletin. Publication date: January 3, 2004. Page number: Not available. © 2009 Manila Bulletin Publishing Corp. COPYRIGHT 2004 Gale Group.
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