Investors to still favor the Philippines; least vulnerable to any sort of macro crisis

The Philippines is expected to continue its upward trend economic growth as it is least vulnerable to any sort of macro crisis  which usually encountered by major economies - Investors to still favor the Philippines

THE PHILIPPINES, seen as an Asian economy least exposed to risk, is likely to be favored by investors once the US Federal Reserve starts unwinding a stimulus program, a Japanese investment bank said.

"When the Fed starts tapering its quantitative easing, the likely implication is increasing investor differentiation across Asia, with a preference for sustainable over fast growth," Nomura said in its Global Markets Research report.

Foreign investors have been taking money out of emerging markets -- earlier favored given better returns -- after the Fed said it could start dialing back a bond-buying program given likely US economic recovery.

In the Philippines, the peso and stock market fell to multi-month lows late last month but have since made up some ground.

"The Philippines and Taiwan seem among the least vulnerable to any sort of macro crisis," Nomura said, adding that in the former, "sustainable growth" and "structural reforms" provided a cushion.

The Philippine economy grew by 7.8% in the first quarter, beating market expectations and the government's 6-7% full-year goal.

Inflation settled at 3% as of May, at the low end of the central bank's 3-5% target. An "infrastructure investment-led model supported by remittances, business process outsourcing and electronics exports continues to be highly supportive of strong growth momentum, which looks to be set in motion for the next couple of year," the bank said of the country.

"With Standard & Poor's and Fitch Ratings having upgraded the sovereign to investment grade, we expect Moody's to follow in due course," Nomura added.

Countries tagged as "HIGH RISKS", meanwhile, were the following:

• China,
• Hong Kong
• India.

Countries tagged as "MEDIUM RISKS" were the following:

• Korea
• Malaysia,
• Singapore
• Thailand

Countries tagged as "LOW RISK" were the following:

• Philippines
• Taiwan

The Philippines is least vulnerable to any sort of macro crisis.

"China's high debt, property prices and slowing potential growth, Hong Kong's debt, property prices and current account and India's current account deficit, property prices, inflation and slowing potential growth" placed the three in dangerous territory, Nomura said.

It said that once the Fed tapers its stimulus, countries with "either weak economic fundamentals or that are too slow in normalizing macro policies and implementing structural reforms could struggle to attract investment."

With report from Business World Online

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Philippine Embassy in Lisbon Celebrates International Day of the Seafarer with Filipino Crew of MV Azura

Philippine Ambassador to Portugal Philippe J. Lhuillier presents a poster to Capt. Julian Burgess, Master of MV Azura containing photos of Filipino seafarers in action on occasion of the International Day of the Seafarer last June 25, 2013. Joining the Ambassador for the ship visit is Third Secretary and Vice Consul Rogelio Villanueva Jr. 

June 25, 2013 – Filipino seafarers have one more reason to remember Lisbon in Portugal aside from the pleasant weather and famous sights of the beautiful city.

On June 25, 2013, the Philippine Embassy made a special visit to the cruise ship MV Azura while the ship was on a day-long stopover in Lisbon Port.

The visit was timed in connection with the international celebration of the Day of the Seafarer.

Upon arrival, Ambassador Philippe Lhuillier received a warm welcome from ship officials and was escorted to the bridge where he paid a courtesy call on Captain Julian Burgess, Master of the MV Azura.

The Master thanked the Ambassador for making the extra effort of going to the ship to visit the Filipino crew who he said were very hardworking and dependable.

Ambassador Lhuillier expressed his gratitude to him and the company for constantly looking after the welfare of the Filipino crew.

Ambassador Lhuillier takes time to greet and hear the stories of the Filipino crew of the MV Azura during lunch at the ship´s crew mess. The Filipino crew were delighted with visit of the Embassy which happened during ship´s day-long stopover at the Port of Lisbon.

After the call, the Ambassador made the rounds on the ship to greet the Filipino crew on the occasion of the International Day of the Seafarer, a special tribute for seafarers set by the International Maritime Organization (IMO) on June 25 of every year. 

Filipino seafarers numbering around 260 compose majority of the crew of the MV Azura.

The Ambassador acknowledged the valuable contribution of Filipino seafarers to the national economy and to the global maritime community. He reiterated the Philippine government´s commitment to promote their welfare and reach out to them.

Ambassador Lhuilllier recalled that close to 6,000 Filipino seafarers were able to register for the 2013 National Elections through Embassy´s Akyat-Barko campaign last year and 1,338 out of the total 1,513 seafarers who voted in the last elections were from Portugal or an 88% voter turnout. 

Part of the Embassy`s visit was the distribution of advisories on HIV-AIDS prevention and treatment, drug mules and guidelines on departure formalities for international-bound passengers from the Philippines.

The Embassy took advantage of the visit to remind seafarers about the problems on drug abuse and trafficking in conjunction with the celebration of the International Day Against Drug Abuse and Illicit Trafficking on June 26, 2013.

Before leaving, Ambassador Lhuillier handed out tourism brochures and encouraged the seafarers to invite their guests and passengers to come and visit the Philippines. – END

-Press Release

Philippine Embassy, Lisbon, Portugal 

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