September 24, 2017, 11:57 pm
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.07205 UAE Dirham
1 Philippine Peso = 2.19737 Albanian Lek
1 Philippine Peso = 0.03473 Neth Antilles Guilder
1 Philippine Peso = 0.33883 Argentine Peso
1 Philippine Peso = 0.02472 Australian Dollar
1 Philippine Peso = 0.03508 Aruba Florin
1 Philippine Peso = 0.03924 Barbados Dollar
1 Philippine Peso = 1.60624 Bangladesh Taka
1 Philippine Peso = 0.03223 Bulgarian Lev
1 Philippine Peso = 0.0074 Bahraini Dinar
1 Philippine Peso = 34.03414 Burundi Franc
1 Philippine Peso = 0.01962 Bermuda Dollar
1 Philippine Peso = 0.02647 Brunei Dollar
1 Philippine Peso = 0.13537 Bolivian Boliviano
1 Philippine Peso = 0.06149 Brazilian Real
1 Philippine Peso = 0.01962 Bahamian Dollar
1 Philippine Peso = 1.26104 Bhutan Ngultrum
1 Philippine Peso = 0.20051 Botswana Pula
1 Philippine Peso = 392.78006 Belarus Ruble
1 Philippine Peso = 0.03919 Belize Dollar
1 Philippine Peso = 0.02419 Canadian Dollar
1 Philippine Peso = 0.01905 Swiss Franc
1 Philippine Peso = 12.25231 Chilean Peso
1 Philippine Peso = 0.12921 Chinese Yuan
1 Philippine Peso = 57.14342 Colombian Peso
1 Philippine Peso = 11.22072 Costa Rica Colon
1 Philippine Peso = 0.01962 Cuban Peso
1 Philippine Peso = 1.81263 Cape Verde Escudo
1 Philippine Peso = 0.42857 Czech Koruna
1 Philippine Peso = 3.49225 Djibouti Franc
1 Philippine Peso = 0.12231 Danish Krone
1 Philippine Peso = 0.92211 Dominican Peso
1 Philippine Peso = 2.19774 Algerian Dinar
1 Philippine Peso = 0.25715 Estonian Kroon
1 Philippine Peso = 0.34589 Egyptian Pound
1 Philippine Peso = 0.45831 Ethiopian Birr
1 Philippine Peso = 0.01644 Euro
1 Philippine Peso = 0.03953 Fiji Dollar
1 Philippine Peso = 0.01454 Falkland Islands Pound
1 Philippine Peso = 0.01447 British Pound
1 Philippine Peso = 0.08679 Ghanaian Cedi
1 Philippine Peso = 0.87895 Gambian Dalasi
1 Philippine Peso = 174.63213 Guinea Franc
1 Philippine Peso = 0.14311 Guatemala Quetzal
1 Philippine Peso = 3.97705 Guyana Dollar
1 Philippine Peso = 0.15314 Hong Kong Dollar
1 Philippine Peso = 0.45756 Honduras Lempira
1 Philippine Peso = 0.12286 Croatian Kuna
1 Philippine Peso = 1.19973 Haiti Gourde
1 Philippine Peso = 5.08986 Hungarian Forint
1 Philippine Peso = 260.48656 Indonesian Rupiah
1 Philippine Peso = 0.0688 Israeli Shekel
1 Philippine Peso = 1.27132 Indian Rupee
1 Philippine Peso = 22.89582 Iraqi Dinar
1 Philippine Peso = 658.62271 Iran Rial
1 Philippine Peso = 2.10712 Iceland Krona
1 Philippine Peso = 2.56229 Jamaican Dollar
1 Philippine Peso = 0.01388 Jordanian Dinar
1 Philippine Peso = 2.20489 Japanese Yen
1 Philippine Peso = 2.02178 Kenyan Shilling
1 Philippine Peso = 1.3433 Kyrgyzstan Som
1 Philippine Peso = 79.4585 Cambodia Riel
1 Philippine Peso = 8.05435 Comoros Franc
1 Philippine Peso = 17.65745 North Korean Won
1 Philippine Peso = 22.18972 Korean Won
1 Philippine Peso = 0.00592 Kuwaiti Dinar
1 Philippine Peso = 0.01609 Cayman Islands Dollar
1 Philippine Peso = 6.67785 Kazakhstan Tenge
1 Philippine Peso = 162.84088 Lao Kip
1 Philippine Peso = 29.53698 Lebanese Pound
1 Philippine Peso = 2.99588 Sri Lanka Rupee
1 Philippine Peso = 2.29351 Liberian Dollar
1 Philippine Peso = 0.26015 Lesotho Loti
1 Philippine Peso = 0.05981 Lithuanian Lita
1 Philippine Peso = 0.01217 Latvian Lat
1 Philippine Peso = 0.02654 Libyan Dinar
1 Philippine Peso = 0.18329 Moroccan Dirham
1 Philippine Peso = 0.34501 Moldovan Leu
1 Philippine Peso = 1.00647 Macedonian Denar
1 Philippine Peso = 26.68236 Myanmar Kyat
1 Philippine Peso = 48.14597 Mongolian Tugrik
1 Philippine Peso = 0.15773 Macau Pataca
1 Philippine Peso = 7.0826 Mauritania Ougulya
1 Philippine Peso = 0.65097 Mauritius Rupee
1 Philippine Peso = 0.30135 Maldives Rufiyaa
1 Philippine Peso = 14.05376 Malawi Kwacha
1 Philippine Peso = 0.34969 Mexican Peso
1 Philippine Peso = 0.08232 Malaysian Ringgit
1 Philippine Peso = 0.2598 Namibian Dollar
1 Philippine Peso = 6.92564 Nigerian Naira
1 Philippine Peso = 0.58623 Nicaragua Cordoba
1 Philippine Peso = 0.15332 Norwegian Krone
1 Philippine Peso = 2.01197 Nepalese Rupee
1 Philippine Peso = 0.02683 New Zealand Dollar
1 Philippine Peso = 0.00755 Omani Rial
1 Philippine Peso = 0.01962 Panama Balboa
1 Philippine Peso = 0.06369 Peruvian Nuevo Sol
1 Philippine Peso = 0.06268 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.06494 Pakistani Rupee
1 Philippine Peso = 0.07028 Polish Zloty
1 Philippine Peso = 111.25171 Paraguayan Guarani
1 Philippine Peso = 0.07269 Qatar Rial
1 Philippine Peso = 0.0755 Romanian New Leu
1 Philippine Peso = 1.13354 Russian Rouble
1 Philippine Peso = 16.2576 Rwanda Franc
1 Philippine Peso = 0.07357 Saudi Arabian Riyal
1 Philippine Peso = 0.15204 Solomon Islands Dollar
1 Philippine Peso = 0.2669 Seychelles Rupee
1 Philippine Peso = 0.13067 Sudanese Pound
1 Philippine Peso = 0.15655 Swedish Krona
1 Philippine Peso = 0.02649 Singapore Dollar
1 Philippine Peso = 0.01455 St Helena Pound
1 Philippine Peso = 0.43567 Slovak Koruna
1 Philippine Peso = 147.14538 Sierra Leone Leone
1 Philippine Peso = 10.928 Somali Shilling
1 Philippine Peso = 402.77613 Sao Tome Dobra
1 Philippine Peso = 0.17167 El Salvador Colon
1 Philippine Peso = 10.10359 Syrian Pound
1 Philippine Peso = 0.2598 Swaziland Lilageni
1 Philippine Peso = 0.64921 Thai Baht
1 Philippine Peso = 0.04791 Tunisian Dinar
1 Philippine Peso = 0.0432 Tongan paʻanga
1 Philippine Peso = 0.06876 Turkish Lira
1 Philippine Peso = 0.13239 Trinidad Tobago Dollar
1 Philippine Peso = 0.59217 Taiwan Dollar
1 Philippine Peso = 43.90818 Tanzanian Shilling
1 Philippine Peso = 0.51422 Ukraine Hryvnia
1 Philippine Peso = 70.57092 Ugandan Shilling
1 Philippine Peso = 0.01962 United States Dollar
1 Philippine Peso = 0.56582 Uruguayan New Peso
1 Philippine Peso = 158.34804 Uzbekistan Sum
1 Philippine Peso = 0.19569 Venezuelan Bolivar
1 Philippine Peso = 445.73278 Vietnam Dong
1 Philippine Peso = 2.0155 Vanuatu Vatu
1 Philippine Peso = 0.04907 Samoa Tala
1 Philippine Peso = 10.773 CFA Franc (BEAC)
1 Philippine Peso = 0.05297 East Caribbean Dollar
1 Philippine Peso = 10.75142 CFA Franc (BCEAO)
1 Philippine Peso = 1.95017 Pacific Franc
1 Philippine Peso = 4.90386 Yemen Riyal
1 Philippine Peso = 0.25991 South African Rand
1 Philippine Peso = 101.81479 Zambian Kwacha
1 Philippine Peso = 7.10025 Zimbabwe dollar

US firms fret over taxation, poor infra

US companies in the Philippines are the second most optimistic among their counterparts in Asean, with 70 percent of them expressing intention to expand. 

The bullish sentiment reflects on their expectations for next year as 85 percent of them believe profits will be higher in 2018. 

The 2018 Asean Business Outlook Survey, however, shows half of the respondents are dissatisfied with customs and taxation in the Philippines. 

From among 16 factors that measure business environment, availability of labor tops it all for US businesses in the Philippines. 

Tax structure scored last at 15 percent. 

The most challenging factors Philippine-based respondents to the 2017 AmCham survey identified were poor infrastructure, corruption, and the tax structure. 

American businesses have credited  both the current and previous administrations in reducing  corruption and in substantially increasing spending on both physical and social infrastructure. 

“Comprehensive Tax reform is an early major priority before the Congress now. We expect these and other reforms initiated by the government will be reflected positively by the time of the next survey in 2018,”  the report added.

In this year’s edition of the survey that coincides with the 50th anniversary of Asean, US companies are optimistic about the growth outlook and investment opportunities in the region as businesses see solid growth in domestic consumption. 

The survey, which polled senior executives representing US companies in all 10 Asean countries, found that 56 percent expect their profits to increase this year over last, and 74 percent expect higher profits in 2018. 

Fifty-eight percent reported that Asean markets have become more important for their companies’ global bottom lines over the last two years, and 62 percent of companies surveyed say their level of trade and investment in Asean has increased during this period. Over the next five years, 80 percent expect that their level of trade and investment in Asean will increase. 

Business leaders point to the region’s economic growth and rise in the middle/consumer class as top reasons for this increase, especially in Singapore (73 percent), the Philippines (70 percent), and Indonesia (65 percent). 

Across Asean, the sectors most poised to benefit from the rise of the middle/consumer class are wholesale/retail (74 percent) and software/IT/telecoms (68 percent). 

Respondents also demonstrated confidence about continued growth in Asean through plans for business expansion. Seventy-one percent plan to expand their business to another Asean country, and 62 percent plan to expand within their response location. 

The most common destinations for business expansion overseas were Vietnam, Myanmar, and Indonesia. Forty-five percent of companies reported that they primarily serve the local market, in contrast to the 13 percent of companies which primarily export. 

“The 2017 survey results for the Philippines saw 70 percent of AmCham Philippines respondents planning to expand their operations in the Philippines. This level of confidence was among the highest in the ten Asean economies and the same as Vietnam (72 percent) and Myanmar (71 percent). The optimism of AmCham companies, some of whom have been in the country nearly a century, is based first and foremost on the high value they place on the local labor force, regarded as adequate, well-trained, and low cost,” said AmCham Philippines executive director Ebb Hinchliffe.

This survey demonstrates clearly and vividly that US commercial interests in Asean are vast, and the region is vital to US jobs and economic growth,” said Tami Overby, senior vice president for Asia at the US Chamber of Commerce. “Economic integration in Asia, and between Asia and other parts of the world, is a fact. It is also a fact that if US policy does not support deeper engagement by US companies in this part of the world, it will be left behind – particularly small and medium-sized US exporters. If we want to support US economic growth, we need to make new trade deals in Asia, not pull out of them,” said Overby. 

Ann Yom Steel, executive director, AmCham Singapore said that as the United States invests more in Asean countries than anywhere else in the Asia-Pacific region, strong US- Asean ties are critical. 

“Singapore serves as an important US trading partner, a major destination for US investment, and is key to providing a vital set of links in US companies’ global supply and value chains. So it is no surprise that American companies choose Singapore as their Asia-Pacific regional headquarters. We will continue to push for an even closer cooperation between the US and our partners here through shared principles of dynamic growth and emerging opportunities,”  Steel said.

Challenges to Growth 

While optimism remains strong, there has also been a clear softening of sentiment toward business prospects in the region over the past few years. In the 2015 survey, for example, 72 percent of respondents said their level of trade and investment in the region had increased over the prior two years. In 2013, 91 percent of respondents said their trade and investment would increase in the next five years. 

In addition, a plurality (48 percent) of businesses expects that bilateral ties between Asean countries and China will deepen and nearly the same percentage (46 percent) indicate that there will be potential negative effects on their company’s operations should the US take punitive trade action against China. 

As in previous years’ surveys, US companies cite corruption as their single greatest concern in the region (except in Brunei and Singapore), followed by laws and regulations that inhibit business expansion. Respondents also reported a moderate to substantial decrease in their level of satisfaction with these and 13 other investment climate indicators over the past five years. The concern with corruption was virtually unchanged, while satisfaction with personal security, sentiment toward the United States, political stability, and laws and regulations declined from 2012-17. 

In previous surveys, executives have indicated that the Asean Economic Community (AEC) will make the region more attractive to investment. This year, respondents recommended several priority areas for Asean to address in the context of the AEC, including corruption, non-tariff barriers, transparency, and good governance. 
Category: 
Rating: 
No votes yet

Column of the Day

The sweet in the bittersweet

By JOSE BAYANI BAYLON | September 25,2017
‘Never in our wildest dreams did it ever occur to me - and I am sure to him - that his final months will be spent with the black sheep of the family.’

Opinion of the Day

Barbaric fraternities (3)

By DAHLI ASPILLERA | September 25, 2017
‘Identified by his father in a deep ravine, where a dead EJ Karl Intia, 19, U-Makati, was thrown after initiation. Where are those 15 participants at that APO hazing?’