The Philippines is set to lead the growth of Southeast Asian region in the next five years. This is according to the Organization for Economic Cooperation and Development (OECD), an international economic organization based in Paris which is composed of 34 countries founded 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 are evidence that business in the country remains optimistic. Investors must take this chance to look into the potential investment opportunities of the country. The right time to invest in the Philippines is today.
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