Economic managers told Singaporean businessmen Friday that the Philippines remains an ideal investment destination because of its intact and solid macroeconomic fundamentals despite the the global health crisis.
Bangko Sentral ng Pilipinas Governor Benjamin Diokno said in a presentation during the virtual Philippines-Singapore Business Conference while countries were preoccupied with the rollout of vaccines and recovery efforts, many investors were in search of business opportunities and destinations that would provide great value for shareholders over the long haul.
“The Philippines is a smart investment destination,” Diokno said.
He said amid a sea of credit-rating downgrades and negative rating outlooks, the Philippines maintained its investment grade credit ratings, all of which are assigned a “stable” outlook.
“Debt watchers are one in saying that the Philippines has strong pre-crisis fundamentals, has robust medium-term growth prospects and is inclined to return to its fiscal consolidation path post-COVID,” Diokno said.