Nomura: Easing foreign ownership limits key to more investments

ABS-CBN News

Posted at Oct 02 2017 09:34 AM

MANILA - Easing restrictions on foreign ownership in businesses is a "key step" to encouraging more investments in the Philippines, an analyst said Monday.

Additional foreign investments will help shift the growth drivers of the economy to manufacturing from services, Nomura senior economist Euben Paracuelles told ANC's Market Edge with Cathy Yang.

Paracuelles was among moderators at an investment forum in Tokyo, where President Rodrigo Duterte's economic team discussed his 2-step plan to relax limits on foreign ownership.

The turnout of Japanese investors at the forum indicated "strong interest" on the Philippines, Paracuelles told ANC's Market Edge with Cathy Yang.