Last March 27, 2013, the Republic of the Philippines received its first Investment Grade Status from the rating agency, Fitch Group. From a previous ranking of BB+, the status of the Philippines has been upgraded to BBB-. For the first time in the nation’s history, the country was given such an investment grade by a major international credit ratings agency. This means a great deal to the country and its future growth and development as the investment grade will pave to the way towards a host of benefits and improvements. The previous ranking (BB+) was two notches below investment grade and thus indicated to foreign direct investors that the Philippines is not the safest place for their investments. The upgrade to BBB- labels the country as Investment Grade and thus states that we are ready and able to house such major investments.
The investment arm of Metrobank Group of Taipan George S.K. Ty, GT Capital Holdings Inc. is open to forge partnerships with entities competing for projects under the Public-Private Partnership (PPP) program of government.
“If we can get a strategic partner, why not,” said GT Capital president Camelo Bautista when asked whether the group was looking at bidding for PPP projects.
However, Bautista said that there is nothing on their table right now and they remain focused on further increasing their core businesses which includes financial services, real estate, automotive distribution, insurance and power.
What to be expected for the country’s real estate services firm this year?
Heading by fearless projection of five real estate consultants, the expectation for 2013 is rosy.
Julius Guevara, associate director for advisory services and head of consultancy and research of Colliers International, said that in general the bullish performance of the economy is seen to continue in 2013. “2012 proved to be a very good year for the Philippine economy, specifically for real estate.
San Miguel Properties Inc. (SMPI), the real estate development provider associated with San Miguel Corporation is about to experience an offer for its shares inventory as well as voluntarily delist in from the Philippine Stock Exchange.
In a revelation to the Philippine Stock Exchange, SMPI mentioned the actual move to file the case with regard to non-reflex delisting had been accepted by the board of directors last February 5.
In the third quarter of the year, the Philippines made its mark as the best performer in Southeast Asia by growing a massive 7.1%. This is the strongest recorded growth in Asia during the period after China’s.
Socioeconomic Planning Secretary Arsenio Balisacan said the value of goods produced and the solutions delivered resulted to more jobs and better earnings for Filipinos. “We are well on our way to going above our set target of 5 to 6 % in 2012,” he says.
In the third quarter, agricultural output and recovery in exports jumped, contributing to 1.3% of economy’s rise in the July-September quarter from April-June. This was three times faster than economic experts had estimated.
It is a fact that in today’s business world, offshore outsourcing is a trend now which is very possible for companies who want to develop their business or simply reduce their overhead.
As an entrepreneur, you would definitely want to reduce the costs of running your business without sacrificing the functionality of your business. By outsourcing your company or at least part of your business, you can indeed expand and reduce operating expenses.
You should also consider which country you should outsource your business in. People from different countries have different cultures and education. You have to choose which people, culture and educational standards that your company can benefit.
Considered one of the most dynamic sectors in the world, the Philippine market BPO should continue on a positive trend this year. Experts from Business Processing Association Philippines provide an annual increase of at least 4-10% of global market share, coupled with an expected turnover of at least $ 10-12 billion. An annual hiring rate of 150 000 is also provided, thereby establishing the Philippines as one of the best choice for BPO destinations in Asia.
Because of the last economic downturn, many companies continue to seek an outsourcing company that will meet their requirements, flexibility and cost effective. The choices have expanded to consist of many procedures that have not previously been off-site, including staffing offshore. Most of these opportunities will potentially lead to discipline in just a matter of years. They certainly can and will be valuable for small businesses desperate for fulfillment in the modern economic system. In the Philippines, outsourcing is not really new. Corporate customer call center have been established here through the back of the past decade and earlier years of this century. The outsourcing of customer support functions led to growth in other areas such as business process outsourcing and site maintenance.