The Philippines economic growth leader in SEA, according to the Organization for Economic Cooperation and Development (OECD), is set to lead the growth of the Southeast Asian region in the next five years. The OECD, an international economic organization based in Paris with 34 member countries, aims to stimulate economic progress and world trade.
OECD released the 2015 edition of its outlook report with the title “Economic Outlook for Southeast Asia, China and India 2015: Strengthening Institutional Capacity” during the last day of the ASEAN Business and Investment Summit in Nay Pyi Taw, Myanmar. The report shows positive growth projections among the emerging Asian countries comprising of Southeast Asia, China, and India over the next five years.
Among the ASEAN-5 economies – composed of the Philippines, Indonesia, Malaysia, Thailand and Vietnam – the Philippines received the most favorable forecast for first time since the Outlook was first published in 2010. With an average growth perspective of 6.2% annually over 2015-2019, up from the 5.8% forecast OECD gave for 2014-2018, Philippines is expected to outperform its neighboring countries in terms of expansion.
The continuous positive ratings and projections that the Philippines received solidify its position as the Philippines economic growth leader in SEA. This is clear evidence that business in the country remains optimistic. Investors must take this chance to explore the vast potential investment opportunities. The right time to invest in the Philippines is today.
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