Jonathan Ravelas, Chief Market Strategist of BDO Unibank said the time is right to invest in the Philippines, when he addressed the British Chamber of Commerce Philippines’ Business Lunch last Tuesday, 11 June 2013 at the Mandarin Oriental Manila.
Speaking on the theme, “Philippines: Revving up the Tiger”, Jonathan Ravelas’ presentation referred to the Philippines as the “sunniest economy” in Asia, having recorded a 7.8% economic growth in the first quarter of the year, surpassing all its Asian neighbours.
Mr. Ravelas outlined his 2013 outlook for the Philippine economy where he sees a full year growth of 6.5%, inflation around 3.5% and the Peso to trade against the Dollar within 39.50 – 43.00 range, but to end the year at 42.10. He believes interest rate will remain low to encourage growth; exports to grow by 7% and imports to grow by 5%.
What sectors would benefit most from such environment? Mr. Ravelas named Agribusiness, Consumer Durables, Construction & Real Estate, Education, Health, Beauty and Wellness and Infrastructure among them.
In summarising his presentation, Mr. Ravelas said that global financial conditions have improved but risks remain and while Philippine markets are resilient, they are not immune to global risks. Sustaining the Philippines’ impressive growth depended on productivity enhancements, investment on infrastructure, human capital and governance, he said.
British Chamber of Commerce Philippines’ Chairman, Roger Lamb presented a plaque of appreciation to Jonathan Ravelas at the conclusion of the Business Lunch.
Members can access Mr. Ravelas’ presentation at the Resources section of the BCCP website.