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-.
Foreign direct investment inflows have never been better as confidence increases in the Philippine business environment. Foreign direct investment increased by 10% by the end of 2012. Comparing from the previous year, the amount increased from $1.85 billion in 2011, a significant amount in itself, to an even more impressive $2 billion in 2012.
The Philippine Peso continues to do well in terms of Peso-Dollar exchange despite the currency being widely reputed to be one of the weaker currencies in the region. In the first two months of 2013, the Peso is reported to be on one of the fastest appreciating currencies in Asia.
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.
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.