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Ratings upgrade to spur rise in FDIs: Diokno
Foreign Direct Investments (FDIs) into the Philippines will likely increase further in the coming months due in part to the recent upgrade of the country’s credit rating as well as the decline in inflation last June.This was noted by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno following the increase of net FDIs last April to USD961 million from the previous month’s USD586 million net inflows.“If you look at the data globally, it’s (FDIs) been declining. Ours is increase so that shows confidence,” he told journalists Wednesday.Last April, S&P Global Ratings upgraded its investment rating on the Philippines to ‘BBB+’, a notch away from A rating, with Stable outlook because of the sustained expansion of the domestic economy, heathy external position and sustainable public finances.This happened about a year after the debt rater changed its ratings outlook on the country’s then ‘BBB’ rating from Stable to Positive.Relatively, rate of p... PH signs P44-B agri project deal with Israel
In a bid to strengthen the agriculture industry and support farmers, the Department of Agriculture (DA) closed a deal with the Israeli government for a PHP44-billion loan to complete the proposed solar power plant project.Agriculture Secretary Emmanuel Piñol and Israel Ambassador to the Philippines Rafael Harpaz on Tuesday signed the Implementing Agreement (IA) on Agricultural Cooperation at the DA Central Office in Quezon City.The IA on Agricultural Cooperation is the final output of a series of negotiations between Israel and Philippines which started during the visit of President Rodrigo Roa Duterte to Israel in 2018.“The banner program under the agreement is the transfer of technology, funding, and establishment of solar-powered irrigation systems all over the country funded by a long-term loan of PHP44-B being offered by the Israeli government,” Piñol said in his statement posted on Facebook Wednesday.The project will involve the establishment of 6,200 units ... Full implementation of Ease of Doing Biz law to boost FDI: ARTA
The full implementation of Republic Act 11032 or the Ease of Doing Business and Efficient Government Service Delivery is expected to boost foreign investments in the country, the Anti-Red Tape Authority (ARTA) said Wednesday.“If the Ease of Doing Business law is fully implemented, its positive impact will improve our country’s productivity and ratings, resulting in more foreign investments,” ARTA officer-in-charge, Deputy Director-General Ernesto V. Perez said in a statement.Perez, who attended dialogue and discussions in Malaysia with various partner agencies of the World Bank Group, said the Philippines aims to adopt some of the best practices in regulatory governance from other countries.“Malaysia, in the late 80s, were lagging behind the Philippines. Now, they’re almost a first-world country,” he said.Perez attributed the rise to the modernization of business regulation under the leadership of the Malaysia Productivity Commission (MPC), ARTA’s counterp...
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S&P upgrades Philippine credit rating  to "BBB+Stable," a notch away from 'A' territory rating

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