Inside the Philippines: January 2024

Macro Movements: Banks uphold positive GDP growth outlook, November Inflation print reaches 14-month low at 4.1%

IMF, ADB, and BSP upholds positive GDP growth outlook for PH amid downturn predictions in other SEA countries
November Inflation print reaches 14-month low, BSP signals higher-for-longer monetary policy on interest rates

Investment Updates: BOI and PEZA reach 2023 investment targets

Board of Investments reached a record high on approved investments in 2024, driven by the Renewable Energy sector
Export-oriented Philippine Economic Zone Authority (PEZA) anticipates investment rebound to PHP 250B to 300B levels

Deal Spotlight: Cosco Capital to enter RE sector, Dagupan Electric Co and Citicore Renewables to expand through IPO

Cosco Capital to acquire 60% stake in Catuiran Hydropower Corp, marks its entry in the RE sector
Dagupan Electric Corporation scheduled to IPO on January 2024
Citicore Renewable Energy Corporation, the second largest solar producer, gears up for a PHP 12.9B IPO in March 2024

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