FAMI bullish on Phl economy

MANILA, Philippines — First Metro Asset Management Inc. (FAMI) is urging corporates to place their bets on the Philippine economy.

FAMI, the fund management arm of First Metro Investment Corp., called on company directors, CFOs, other decision-makers and investors to invest in the country’s promising growth story.

FAMI president Karen Liza Roa said the Philippines is a consistent performer.

“Our economy registered an above six percent growth for eight years in the last decade, proving its strength and resiliency despite the changes in government administration (from Arroyo to Aquino to Duterte), natural calamities, and a volatile market environment,” Roa said.

First Metro vice president and head of research Cristina Ulang added that the Philippines’ robust demographics and improving ease-of-doing business makes it a good place to invest in.

“The continued growth of the Philippine economy is attributable to the strength of the domestic economy, driven in large part by household consumption and government spending, and thus, less vulnerable to global event risks such as the US-China trade war,” Ulang said.

Roa said the Philippines has had an average GDP growth of 6.4 percent in the last five years and is one of the top economies in the region.

Malaysia posted an average growth of 5.2 percent, Indonesia five percent, Thailand 3.1 percent and Singapore three percent.

Ulang said household consumption, foreign direct investments, manufacturing, tourism, construction and infrastructure are driving growth.

In all, Roa said institutions and individuals alike must invest in a diversified portfolio of stocks to have a better chance of getting the rewards brought about by these growth drivers.

“That may sound tedious given the many available stocks in the market, but by referring to an index, such as the Philippine Stock Exchange index, one would know where to invest,” Roa said.

“Others are now seeing the perks of investing in the Philippines. It is high time we do the same.”

She said the Philippine market has a huge potential.

“We saw it before the first investment grade rating from Fitch in 2013, and we continue to keep that confidence in our country’s growth story,” she said.