Japanese Businessmen Urged By Philippine Finance Chief To Invest To Sustain 7 Percent Growth
Philippines finance chief urged Japanese Businessmen to invest in the country to sustain 7 percent economic growth under Duterte’s administration.
Finance Secretary Carlos Dominguez said during a trade forum that the planned rewrite of the 1987 constitution to spur investments, Duterte can ease ownership restrictions for foreign businessmen.
“We intend to sustain GDP growth of 7 percent or better and bring down poverty rate from 26.5 percent to 17 percent in 2022,” said by Dominguez quoted by ABS-CBN.
In 2018, the 7 percent economy growth of the Philippines is expected to increase by 8 percent, while this year’s growth was eyeing 6.5 percent will grow increase to 7.5 percent, according to economic planning Secretary Ernesto Pernia.
Pernia said in a statement that the economy can be sustained if infrastructure support will be provided. The Philippines can be considered as one of the fastest growing economies in Asia for its economy grew by 7 percent in the second quarter of 2017 as the country is open its door for businesses.
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