According to World Bank, the Philippines’ growth slowed in the first half of 2019 driven by a rapid deceleration in investment growth due to contraction in public spending and weaker global economy.
However, the competitiveness of the country was laggard throughout the last quarter of the year. It dropped to 6th from 5th in the ASEAN Region according to the 2019 Global Competitiveness Index. In situations like this lies the need for the public and private sector to work together and continually improve the business economy of the Philippines. Some analysts say that the investment landscape in the country seems vibrant for 2020 and some believe otherwise. Public spending on infrastructure projects that boosts fixed investment and sustained consumer spending are two factors for a positive outlook for 2020.
With the year 2020 fast approaching, Mr. Jeffrey Madden will be flying from the United States to discuss how businesses will adapt in the so-called “New Economy,” and will also be joined by Professor Joel Litman to give us a forecast on how 2020 will look like for businesses and the Philippine economy as a whole.