Pool- Philippines business leaders 4th most optimistic in the world

      

The Philippines ranked fourth in the latest global survey on business confidence, according to UK-based auditing and advisory firm Grant Thornton International.

Survey results released by audit, tax and advisory firm Punongbayan & Araullo (P&A) showed 82 percent of Filipino respondents were upbeat on the economy for the next 12 months. P&A is Grant Thornton's local member firm.

The same survey showed the top ten countries in terms of business optimism were 

1. Peru (90 percent)
2. Brazil (86 percent),
3. United Arab Emirates (84 percent)
4. Philippines (82 percent)
5. Georgia (78 percent)
6. India (74 percent)
7. Chile (68 percent)
8. Germany (64 percent)
9. Mexico (62 percent)
10. Turkey (60 percent).

The International Business Report (IBR), a worldwide survey of business sentiment, started doing quarterly polls of economic confidence during the last quarter of 2010.

While the level of confidence in the Philippines has been fluctuating, it has consistently outpaced optimism globally and in the ASEAN region, it said.

In an earlier IBR survey, the Philippines ranked third overall with 87 percent in the optimism rating after Chile (95 percent) and India (93 percent).

P&A managing partner and chief executive officer Marivic Españo said the Philippines has managed to remain resilient despite the global uncertainties.

"Now that the global mood has also picked up, particularly among more mature economies, and the government seems determined to make up for its under-spending last year, I think we're on track to maintaining this upbeat outlook," she added.

Forty-five percent of Filipino businessmen said they expect an improvement in the local economy.

Filipino business leaders said they have seen improvement in regulations and reduction of red tape, which was considered roadblocks to their business growth.

Regulations/red tape in the past had consistently emerged as the top obstacle for Filipino business leaders, but now has become less of a hindrance this quarter: 22 percent of local respondents reported it as a business constraint, compared to 32 percent last quarter.

"Bureaucracy has long been a cause for concern for businesses in the Philippines. So while it's good to note that fewer respondents are hampered by it, it bears to mention that it still emerged as the top constraint, along with information and telecommunications infrastructure," Españo said.

She said businesses are feeling the effects of the government's drive to improve the ease of doing business in the country.

The Philippine Business Registration workstation of the Department of Trade and Industry is a good start.

Since the Philippines started participating in 2004, optimism among local business leaders has always tracked an upward trend until 2009, when optimism dropped from a high of 95 percent to 63 percent in reaction to the global financial crisis.

The following year, confidence level marginally improved to 68 percent as business leaders cautiously looked forward to a rebound.

Continue reading

Philippines, Qatar sign 5 MOUs on tourism, fisheries, investments

The Philippines and Qatar on Tuesday signed four bilateral agreements and one private sector agreement that would boost cooperation in the areas of investments, tourism, fisheries and the legal field.

Philippine President Benigno Aquino III and the Emir of Qatar, His Highness Sheikh Hamad bin Khalifa Al Thani, who arrived in Manila for a two-day state visit, witnessed the signing of the agreements at the Palace Reception Hall after their bilateral meeting.

The Department of Trade and Industry (DTI) and Qatar Holding Limited Liability Corporation signed an MOU on investment cooperation.

"This MOU would explore the investment opportunities in the Philippines in various sectors including natural resources, commodities, energy, agriculture, and infrastructure," Presidential Spokesman Edwin Lacierda said.

The MOU on tourism cooperation is expected to create "favorable conditions for long-term cooperation in tourism for the mutual benefit of the Philippines and Qatar," Lacierda said.

The MOU on agricultural and fisheries cooperation establishes the general framework for cooperation in the fields of agriculture and fisheries "for the purpose of fostering sectoral development and enhancing agri-related trade and investment," he added.

It is the first-ever visit of the Emir of Qatar to the Philippines, who was feted to a state dinner in his honor at Rizal Hall of Malacanang, the presidential palace.

The Emir will meet separately with Vice President Jejomar Binay and Speaker Feliciano Belmonte on Wednesday, before returning to Qatar.

President Aquino and Emir Sheikh Hamad Bin Khalifa Al-Thani witnessed the signing of five agreements to enhance business relations between the Philippines and Qatar at Malacañang Palace.

Presidential spokesman Edwin Lacierda said four government-to-government agreements were signed.

One was the memorandum of understanding on tourism cooperation that would create favorable conditions for long-term cooperation in tourism for the mutual benefit of the Philippines and Qatar.

Another MOU was on cooperation in the legal field that would encourage the sharing of experiences and best practices in the performance of the mandates of each country's ministry of justice.

The MOU on agricultural and fisheries cooperation establishes the general framework for cooperation in the fields of agriculture and fisheries for the purpose of fostering sectoral development and enhancing agri-related trade and investment.

Among the areas of cooperation are crops technology, vegetable and fruit preservation, biotechnology, post-harvest technology, livestock and fisheries, coastal and deep-sea fishing management, irrigation and water resources, and the halal industry.

The Philippines will invite Qatar to participate in the country's Public-Private Partnership projects, Lacierda said.

Qatar Airways to fly to Manila

Qatar Airways will operate 14 flights weekly between Manila and Doha.

Abdallah Okash, Qatar Airways Philippines country manager, corrected a STAR report last April 3 on the pullout of Qatar Airways of its thrice a week Cebu to Doha flights.

"We have 14 weekly flights between Manila and Doha, and not twice a week," he said.

Quoting aviation industry sources, The STAR reported the Qatar Airways decision to discontinue the Cebu to Doha flights was made due to high costs of operating in the country.

The pullout of Qatar Airways of its Cebu-Doha flights came on the heels of the state visit of Sheik Hamad.

Continue reading