RP ranked 9th among 2009 key emerging markets for global investors
The Philippines jumped 14 spots from 23rd a year ago and now ranked 9th among key emerging markets for global investors in 2009. This is according to a new research published by the UK Trade & Investment.
In a statement, British Ambassador to the Philippines Stephen Lillie said that “the global recession was a wake-up call for companies to diversify their export base and seek out new opportunities in the emerging world. We are encouraging UK business to look to the Philippines and find new business in this exciting new market.”
Currently, around 200 British companies operate in the Philippines with sizes ranging from multinationals to small and medium enterprises. U.K. investment last year also amounted to $298.17 million.
Despite the global recession halting the world economy, the Philippines showed continued growth posting a 1.5% economic growth in the second quarter of 2009.