Article: OBSERVER: Recovery at last

L. Coronel Victoria
Filipino Express, The
12-18-1994
OBSERVER: Recovery at last.

The Philippines' economic fortunes are on the rise. Foreign businesses are looking the country's way again after many years of investment-phobia.

Foreign money is pouring in, especially from neighboring Asian countries. Capital, scared away in recent years by the country's political indicators -- such as a forecasted 5 percent growth rate in 1994, a robust stock market, and rising property prices -- point to a good year.

The Philippines' Board of Investments reports that foreign direct investment into the country soared by more than 480 percent to 40.9 billion pesos ($1.4 billion) in the first nine months of ...

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