Inside the Philippines: April 2023

Macro Movements: PH on track with investment target; now open to full foreign ownership in select public sectors

PH gov’t secures nearly half of its PHP 1 trillion investment target for 2023

Gov’t releases implementing rules and regulations for amendments to the Public Service Act

Trade Relations: RCEP to take effect in June; ADB and International Trade Center project significant increase in exports

Largest free trade agreement to take effect in the Philippines this June 2023

Deal Highlights: Startup investments see sustained momentum in 2022 with over USD 1 billion raised in capital

Early-stage investments continue to dominate the local startup fundraising space

PH gov’t accredits Gobi-Core Philippine Fund as co-investor for state Startup Venture Fund

Industry Watch: Global cost-cutting to benefit Philippine BPO growth

BPO sector grows by 8.4% in headcount and 10.3% in revenues in 2022

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