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