• Page Views 1536
  • “We see more trade and investment opportunities for Philippines with the integration of Asean,” said Mimi Concha, HSBC’s head of commercial banking for the Philippines, in a statement on Wednesday.

    Concha stressed that the Philippines was leveraging synergies and economies of scale made possible by ongoing integration  initiatives.

    “In the years to come, we see the Asean building and improving regional connectivity opening up opportunities to companies we work with here in Philippines, in the region and around the globe,” she said.

    HSBC said that with export figures conservatively expected to surge five-fold to $329 billion in 2050, the Philippines remains one of the fastest-growing economies in Asia.

    It noted that the country was continuing a positive growth trajectory that started in the first quarter of 1999. The  bank reiterated that HSBC Global Research forecasts placed the Philippines as rising to become the world’s 16th largest economy by 2050 given its demographics and rising education standards.

    HSBC’slatestoutlookon the Philippines accompanied new forecasts for the Asia Pacific region, laid out in the bank’s Trade Winds report.

    In the report, HSBC said Asia was poised to ignite a decade of global trade growth and be the starting point for a quadrupling of worldwide exports to an estimated $68.5 trillion by 2050. It forecast that the cost of shipping would fall, driven by a combination of larger vessels and the expansion of shipping lanes. New airports, improvements in energy  efficiency and further streamlining of border control processes will speed up trade and reduce air freight costs, HSBC added.

    “In the Philippines, investments on infrastructure such as ports, airports and better road networks will push down prices,” Concha said.

    Noting changes in policies with the recent amendments to the Cabotage Law, she said there would be  significant improvements in the movement of products and people as the infrastructure and trade environment improves.

    The fast growing business process outsourcing (BPO) industry will remain a particular strength of the Philippines, Concha noted.

    “Philippines is one of the top BPO sites and growth in this sector remains to be strong. This is fueled by the demographics, as Filipinos are one of the youngest in this part of the globe, and this is coupled with improving literacy,” she said.(M. Caraballo, MT)


    Leave a Reply

    New Posts Recently publish post More

    • 23 March 2018
      2 hours ago No comment

      Catriona Gray sweeps Binibining Pilipinas awards

      An early pageant favorite, Catriona Gray, wins as the Philippines’ official representative to the 2018 Miss Universe pageant. Gray has been crowned Bb. Pilipinas Universe 2018 at the coronation night held in Araneta Coliseum, Cubao, Quezon City on March 18. From the moment Catriona was named as the first ...

    • 22 March 2018
      20 hours ago No comment

      Jerwin Ancajas receives bonus from MVP

      World super-flyweight champion Jerwin Ancajas was warmly received Tuesday afternoon by telecom tycoon Manny V. Pangilinan, who handed a P1-million check that the fighter will use to rehabilitate the gym that he and manager Joven Jimenez own in Magallanes, Cavite. “Malaking tulong po ito sa pagpapagawa ng aming gym,” ...

    • 22 March 2018
      22 hours ago No comment

      Pinay allegedly harassed in Burnaby church complains before B.C. Human Rights Tribunal

      A complaint will be heard by the B.C. Human Rights Tribunal about the alleged harassment of a Filipino mother in a Burnaby church. The tribunal, in a recent decision, rejected the request of the Willingdon Church to dismiss the complaint filed by Raquel Cunanan. A single mom, Cunanan had ...

    • 22 March 2018
      24 hours ago No comment

      Falcons one win away from UAAP-baseball diadem

      A mighty four-hit, four run rampages in the first inning carried Adamson University to an abbreviated seven-inning 14-4 rout of favored La Salle Tuesday opening the two-teams’ best-of-three title series for the UAAP-baseball championship at the Rizal Memorial Stadium. The Falcons’ third baseman Gerald Riparip, pitcher Jerome Yenson, rightfielder Lester Carandang ...

    • 20 March 2018
      3 days ago No comment

      Philippine Congress committee finds cause to impeach Chief Justice Sereno

      With a 38-2 vote, the House of Representatives’ committee on justice on March 8 ruled to impeach Philippine Supreme Court Chief Justice Maria Lourdes Sereno.   “Throughout the probable cause hearings, this committee has gathered sufficient evidence to provide us the ammunition to prosecute this case towards victory,” said ...

    %d bloggers like this: