Published on 6 August, 2012 - 08:31
Top executives of a multilateral bank and foreign fund managers agree the time is ripe to invest in the Philippines. After all, the $220-billion economy grew by 6.4 percent year-on-year in the first quarter, while the rest of the world was reeling from the European debt crisis.
“We believe the Philippines to be one of the most promising, if not the most promising country to establish an infrastructure fund and investing in infrastructure,” Frank Kwok, senior managing director at Macquarie Infrastructure Real Assets, Asia, a unit of Australia’s Macquarie Group, says in a news briefing at the Asian Development Bank’s headquarters in Ortigas.
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