Gatchalian: PH soon no longer 'sick man of Asia' | Global News

Gatchalian: PH soon no longer ‘sick man of Asia’

By: - Reporter / @MAgerINQ
/ 10:46 AM March 06, 2018

The country’s “dubious” distinction as the “sick man of Asia” will soon be a thing of the past, Senator Sherwin Gatchalian said on Tuesday.

Gatchalian cited a ranking released by the U.S. News & World Report in February which placed the Philippines in the No. 1 spot among a list of “best countries to invest in.”


The U.S. News & World Report is a web-based American media company that publishes news, opinion, consumer advice, rankings and analyses.

According to the U.S. News & World Report, the ranking was based on a study that polled over 21,000 people worldwide on their perceptions of 80 nations across 75 metrics.


READ: DOF: PH ranks no. 1 among ‘best countries to invest in’

“Over the past few decades, the Philippines came to be known as the ‘sick man of Asia’ due to its disappointing economic performance in comparison to its Asian neighbors. Fortunately, international recognition of the country’s vibrant economic outlook through rankings such as these indicates that the sick man of Asia is nearing full recovery,” Gatchalian, chair of the Senate committee on economic affairs, said in a statement.

Gatchalian expressed optimism that the administration’s policies would keep  the economy “moving in the right direction” – especially the government’s P9-trillion “Build, Build, Build” infrastructure program, which he said is a “crucial driving force” in strengthening the country’s investment climate.

At the Senate, Gatchalian said his committee has already begun deliberations on measures that would further boost foreign direct investment in the country.

He cited in particular Senate Bill No. 1639, which he had filed, and aims to remove barriers on foreign firms hoping to invest in the domestic retail trade sector.

“We have to make the most out of this opportunity to really kick foreign direct investment into overdrive by implementing the proper legal reforms,” Gatchalian said.   /muf

Subscribe to our global nation newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.
Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: best countries, Economy, Gatchalian, Investment, U.S. News & World Report
For feedback, complaints, or inquiries, contact us.

Subscribe to our global news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.

© Copyright 1997-2022 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.