Israel eyes expanding investments in Philippines
ABS-CBN News
Posted at Nov 25 2016 03:04 PM
http://news.abs-cbn.com/business/11/25/16/israel-eyes-expanding-investments-in-philippines
MANILA – Israeli companies plan to expand their outsourced operations in the Philippines, betting on the “huge potential” of investments in the country, an industry group said Friday.
Israeli firms are hoping for the predictability of policies under the government of President Rodrigo Duterte, which took power in the middle of the year, said Israel Chamber of Commerce Philippines President Itamar Gero.
“A lot of migration from Indian BPOs to the Philippines is also a good testament of what the Philippines can offer,” Gero told ANC’s “Market Edge with Cathy Yang.”
The chamber’s vice president for internal affairs, Anton Mauricio, said Israel is bullish on the Philippine economy, but called for clarity in policies on incentives for foreign investments.
“Once we communicate the direction clearly, everything will follow. But I think the fundamentals of the Philippines being an attractive place to do business, that’s all done,” Mauricio said.
About 15,000 Israelis visit the Philippines each year, just a tenth of the 150,000 Israelis who tour neighboring Thailand.
