Commercial attaché to present Philippines as investment destination
Visitors to the 2nd Philippine Property Show which will be held on October 2 and 3 at the Abu Dhabi Chamber of Commerce and Industry conference hall will get a chance to be updated on investment opportunities in the Philippines.
Commercial attaché Jose Ma. Dinsay will discuss advantageous investment opportunities for local and international businessmen and investors on Saturday at 11:30 am. Other key seminars will present the Philippines as a new medical tourism and retirement destination for foreigners.
“Despite the recent global crisis and its challenges, the Philippine economy has remained resilient and stable. The country’s economic performance further strengthens its position as one of the preferred investment destinations in the world,” Dinsay explained.
The Philippines is one of the few economies that have continued to register positive growth. Foreign investors appreciated the preemptive liquidity measures implemented by the central bank on the onset of the global downturn like the 200 basis points cut in the central bank rates, the increase in the central bank’s rediscounting rates, and the opening of a dollar rediscounting rates.
In addition, the Philippines first tapped the international capital markets last January, through the issuance of US$ 1.5 billion worth of Republic of the Philippines (ROP) bond. It again issued a global bond worth US$ 750 million last July on account of a larger impact from the global slowdown.
According to the Philippine Central Bank, remittances from Overseas Filipino Workers continued to strengthen and even posted a 9.3 percent growth last July, bringing the year-to-date growth to 3.8 percent, making monetary officials to reconsider their revised two to three percent growth forecast for this year to remain conservative.
Philippine Embassy Consul General and Charge d’ Affaires Noel Servigon will officially inaugurate the show on Friday at 12:30 pm where other embassy and Philippine labor officials, including Filipino entrepreneurs, professionals and community leaders, are expected to attend.
Dinsay added: “This property show will highlight real estate opportunities in the Philippines and the Department of Trade and Industry hopes that through this show visitors will be able to find quality properties that match their investment objectives.”
According to the show project director, Jovy Tuano, Philippine properties are attractive for investors who are interested in low-risk investment and medium rate of return from 10-15% per annum over a three- to five-year period. “Such type of investments portfolio are not designed for speculators who are seeking short term gain from high-risk investment,” Tuano further said.
Admission is free to the public and interested individuals can pre-register online at www.philippinepropertyshow.com.
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