Inside the Philippines: October 2021

Containing COVID: PH Government expands vaccination program scope and implements new lockdown systems

Over 45 million vaccine doses have been administered as of 30 September 2021

Metro Manila pilots alert level systems and granular lockdowns

Growth Outlook: Local contact centers/BPOs expect to outpace global growth while ADB retains PH GDP outlook

Local contact center/BPO sector to grow revenues by 9% in 2021, expand employees by 8-9%

ADB retains its growth outlook for the Philippines

Deal Spotlight: Robinsons Land set to IPO largest REIT; Local cryptocurrency exchange PDAX raises capital

Robinsons Land’s RL Commercial REIT and Megaworld’s MREIT debut the market

Foreign VC firms back more local startup deals

Industry Watch: Banking sector’s NPL ratio to settle at 5-6% for 2021; Online grocery market shows growth prospects

Moody’s downgrades PNB’s credit rating to Baa3

Local online grocery market set to reach USD 1B value by 2025

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