MANILA – Foreign businessmen in the Philippines expressed concern yesterday over the slow pace of economic reform, warning that the country was being left behind in the race to attract foreign investment.

Foreign direct investment in the Philippines reached $2.9 billion  in 2007 according to central bank data, compared with $8.8 billion in Thailand and $7.5 billion in Indonesia.

"The Philippines is underperforming in the region in attracting FDIs," the Joint Foreign Chambers of Commerce said in a letter posted on their web site yesterday.

Hog raisers in WV join
‘Pork-in-a-Box’ project

Hog raisers in Western Visayas now supply pork to Metro Manila through the Pork-in-a-Box project of the Department of Agriculture, the DA 6 regional office said.

OIC-Regional Executive Director Larry Nacionales said that in Panay, slaughtered hogs from the “AA” abattoir in Passi City are transported to the Pontevedra Meat Cutting Facility in Capiz where the cut meat is stored and chilled in a modern blast freezing and packing equipment.

SMART, CCT team up  
for enterprise program

Smart Communications Inc. has entered into a partnership with the Center for Community Transformation Credit Cooperative under SMART’s Social Business Enterprise Program, a press release from the telecommunications company said.

CCT is a microfinance institution catering to poor and low-income households in Metro Manila, Southern and Central Luzon, Visayas, and Mindanao.

Under the partnership, CCT programs for its borrowers are enhanced with two SMART SBE programs – SMART MFI Store Program and SMART Microfinance Program.

back to top