Mailene S. Sigue-Bisnar Partner at Punongbayan & Araullo, Ma. Victoria C. Españo Chairperson & CEO at Punongbayan & Araullo and Marcela Palma-Barahona Country Director of The Philippines at Oxford Business Group
The Philippines’ impressive growth story, which helped the country earn three credit rating upgrades last year, will be given wide-ranging analysis in a forthcoming report to be produced by the global publishing firm, Oxford Business Group.
The Report: The Philippines 2015 will look in detail at how a mix of public and private investment, together with strong domestic demand, led to the Philippines’ economy expanding by 7.25% in 2013, despite the devastation wreaked by Typhoon Haiyan late in the year. The publication will also shine the spotlight on the country’s tax framework, highlighting, in particular, the incentives being made available to investors at the Philippines’ special economic zones.
OBG has signed a Memorandum of Understanding (MOU) on research facilities for a fifth year with the professional services firm, Punongbayan & Araullo (P&A), for its new country report. Under the MOU, OBG will have access to the firm’s resources, which will be used to compile the Tax Chapter of The Report: The Philippines 2015.
OBG’s Regional Director, Laura Herrero, said she was delighted that the Group’s team would once again benefit from P&A’s input.
“The Philippines is gaining a reputation as a prime investment destination on the back of its strong macroeconomic fundamentals and impressive growth story,” she said. “I’m thrilled that Punongbayan & Araullo will once again play a part in our research and support us in providing investors with valuable insights into the country’s tax environment.”
Commenting on the long-standing partnership, P&A Chair and CEO Marivic Españo said, “We’re proud to be one of Oxford Business Group’s partners in providing potential investors with accurate, on-the-ground information about the local business environment, especially now when there is so much excitement about the Philippines’ growth opportunities. We’re confident that once again, OBG will be able to paint a clear, comprehensive picture of the country’s investment climate, and will therefore encourage more people to come see what the Philippines has to offer.”
OBG’s Country Director, Marcela Palma-Barahona, added that new investment opportunities emerging in the Philippines, together with the fast-approaching date for ASEAN integration, would be focal points of the Group’s forthcoming report.
“FDI inflows rose significantly last year, while public-private partnership projects for infrastructure development, together with post-Typhoon Haiyan reconstruction work, will generate plenty of new interest in the Philippines,” she said. “With so much change on the horizon, I am delighted that Punongbayan & Araullo’s team will once again bring their expertise to the table, as we begin researching this exciting new project.”
The Report: The Philippines 2015 will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will be available in print or online.