OECD launches Philippine investment Policy Review

MANILA, Philippines – The Organization for Economic Cooperation and Development (OECD) has launched the Investment Policy Review of the Philippines, which presented the favorable current macroeconomic situation in the country.

Trade and Investment Secretary Adrian Cristobal Jr., DTI Undersecretary Nora Terrado, and Philippine Ambassador to France Maria Theresa Lazaro represented the country at the official launch of the “OECD Investment Policy Review of the Philippines” at the headquarters of the OECD in Paris.

The high-level panel discussion, opened by OECD’s deputy secretary-general Douglas Frantz, was attended by ambassadors and representatives from the member-countries of the OECD, as well as the OECD secretariat.

The policy review provides an assessment of the overall investment climate of the Philippines.

In his presentation, Cristobal said “this investment policy review is a good first contribution of the OECD to countries of the developing world. This was indeed a learning experience. Not only did we learn more about ourselves, but we learned more about each other.” 

“The turnaround story of the Philippines is complete. From the sick man of Asia, we have become a tiger economy,” he said as he elaborated on the factors that enabled the Philippine economy to recently flourish at a rapid pace

Describing the review report, OECD’s website said that, “the current macroeconomic situation in the Philippines is favorable, remittances are high, the business process outsource industry is booming, and the new Competition Act will help to make the domestic market more competitive.”

Frantz the policy review report marks a milestone in the Philippines-OECD partnership.