PH targets 15-20 pct rise in foreign direct investments
MANILA, Philippines - The government is targeting 15 to 20% growth in foreign direct investments every year, banking on what it said was competitive labor costs and robust domestic consumption.
Bloomberg quoted Trade Secretary Gregory Domingo as saying the Philippines should see continuous trend of increasing FDIs after FDI inflows rose 11% in the first half.
Domingo claimed Philippine labor costs are still cheaper than China, at part with Thailand and slightly higher than Indonesia. He said this should encourage foreign manufacturers to build factories here. - ANC