Inside the Philippines: June 2022

Macro Movements: 1Q 2022 GDP growth sees upswing; Central Bank raises key policy interest rate

Philippines’ 1Q 2022 GDP grows by 8.3% year-on-year

Local Central Bank raises key interest rate to 2.25%

New Administration: Marcos officially proclaimed next Philippine president

Ferdinand Marcos Jr. proclaimed president-elect of the Philippines

Deal Spotlight: Foreign investment manager acquires Clark office complex; Startups raise various funding rounds

CarVal Investors-backed Aeropark Development Philippines Inc. (ADPI) invests in West Aeropark and Xendit PH raise various funding rounds in May

Industry Watch: Telco sector sees opportunities for satellite internet, benefits from inclusion as gov’t priority

Starlink gets approval from National Telecommunications Commission (NTC)

Converge ICT secures approval for tax incentives

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Inside the Philippines: May 2022

Optimistic Outlook: Robust Philippine GDP growth to outpace regional peers

IMF expects the Philippines to be the fastest growing among the ASEAN-5 in 2022

ADB sees robust domestic demand fueling Philippine growth in 2022 and 2023

Deal Spotlight: PLDT raises USD 1.5 billion from landmark tower sale; PLDT’s Voyager reaches unicorn status

PLDT offloads 5,907 towers for USD 1.5 billion in largest Philippine asset sale to foreigners

Voyager raises USD 210 million, becomes the Philippines’ second unicorn

Industry Insight: Return-to-office to accelerate office market absorption

Net absorption in the Philippine office market turns positive in Q1

Gaining Ground: Healthcare outsourcing firms seek to expand Philippine footprint

US-based healthcare outsourcers Anthem and Optum eye expansion of their Philippine operations

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Inside the Philippines: April 2022

Optimistic Outlook: Robust growth eyed for Philippine GDP

OECD expects the Philippines to be the fastest growing economy in Southeast Asia in 2022

Moody’s Analytics raises 2022 Philippine GDP growth estimate

Real Estate Investment Trust (REITs): IPO and acquisitions in the pipeline

VistaREIT expected to conduct an initial public offering (IPO) in the second quarter of 2022

AREIT and RL Commercial REIT set to acquire additional office buildings

Spurring Investments: Amended law allows for full foreign ownership in select sectors

Foreign ownership limits have been lifted in the telecommunications, airlines, shipping, and railway industries

Industry Watch: Local e-Commerce startups gain traction

GrowSari raises a total of USD 77.5M in its Series C round and a total of USD 110M to date

SariSuki raises USD 10.7M in funding from global and local investors

Great Deals E-Commerce lands the top spot in the Financial Times’ ranking of high-growth companies in the Asia-Pacific

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Inside the Philippines: March 2022

COVID-19 Status: Philippines further eases restrictions and vaccinates minors

Metro Manila and 38 other areas further ease COVID-19 restrictions

Philippine Government begins COVID-19 vaccination of children aged 5 - 11

Deal Spotlight: Investments in finance & technology

Local startups close various funding rounds led by international investors

Investments on the rise: Operators show interest in establishing data centers in the Philippines

Data centers viewed as among the high growth areas in the property sector

Sector Watch: Renewable energy REIT IPOs; new sectors to be allowed 100% foreign ownership

Citicore debuts the first renewable energy REIT in the Philippine stock market

Telecommunications and railways services soon to be allowed 100% foreign ownership

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Inside the Philippines: February 2022

On the Upswing: Philippine economy expands by 5.6% in 2021, exceeding government’s target

Philippines’ 4Q 2021 GDP increases by 7.7%, raises full-year growth to 5.6%

Containing COVID: Government eases border controls, extends scope of vaccination program

Government eases border control measures as Omicron wave subsides

National vaccination program to begin inoculating kids aged 5 to 11

Spurring Investments: Foreign retailers face lower entry requirements; BoI targets approval of USD 20B in investments

Amendments to the Retail Trade Liberalization Act (RTLA) lower barriers to entry for foreign retailers

Board of Investments targets to approve USD 20B in investment pledges this 2022

Deal Spotlight: Local startups raise various funding rounds

GrowSari, BillEase, and BreederDAO raise various funding rounds in January

Industry Watch: IT-BPM industry is projected to grow by 7.1% in 2021

Everest Group projects the Philippine IT-BPM industry to grow by 7.1% in 2021

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Inside the Philippines: January 2022

On the Upswing: Philippine GDP growth to outpace regional peers

The Asian Development Bank (ADB) raises its Philippine GDP growth projection for 2022 to 6%

Industry Insight: IT-BPM sector to sustain growth trajectory & drive office space demand

The Department of Trade and Industry (DTI) expects the outsourcing sector to lead the diversification of exports

Outsourcing firms are seen to drive office demand over the medium term

Typhoon Rai (Odette) disrupts Cebu’s IT-BPM sector

Emerging Industry: e-Commerce sector to post 17% annual revenue growth until 2025, attracts foreign funding

Philippine e-commerce sales are projected to hit USD 10.3 billion by 2025

IFC mulls USD 10 million investment in Philippine-based B2B e-commerce platform GrowSari

Investor Interest: PSE named as best bourse in SEA for record deals in 2021

Philippine Stock Exchange (PSE) raised a record PHP 234.5 billion (USD 4.7 billion) last year

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