Philippines lags behind flock of ‘Asian geese’ in attracting FDI

MANILA: The Philippines is lagging behind the flock of Asia’s “new flying geese” in attracting foreign direct investments that are shifting away from China, no thanks to some barriers to entry in the local manufacturing sector and Manila’s geopolitical tensions with Beijing, Nomura said.

In a report, the Japanese investment bank said the Philippines and Indonesia do not appear to be the first choice for global companies looking for new production bases elsewhere, despite being among the fastest growing economies in the region with favorable demographics and strong reform prospects.