NBCP organized the Philippine Market Update at the New World Makati Hotel on May 17 to discuss the economic outlook under the incoming administration of President-elect Rodrigo Duterte.
The real estate sector wishlist for the new administration was presented by Antton Nordberg, Head of Research of KMC Savills, while Hans B. Sicat, President & CEO of the Philippine Stock Exchange gave his outlook under the incoming administration and beyond.
Both guest speakers highlighted the positive trend and strong macroeconomic fundamentals of the real economy which are expected to carry over into the foreseeable future. Mr. Nordberg stressed the importance of the following items, reflecting Duterte’s eight-point economic agenda:
1. Lifting of foreign ownership rules and deregulation of capital markets
2. Accelerating infrastructure spending
3. Further opening of the economy to competition
4. Strengthening education
5. Actions to secure the competitiveness of BPO industry
6. Sustaining the current economic conditions
7. Continued fight against corruption
8. Sustainable growth of real estate industry
Mr. Sicat emphasized the importance of maintaining investment grade credit ratings and appointment of a competent economic team to implement the economic agenda moving forward. He added that while the real economy is generally stable, financial markets are more volatile due to external concerns in the global economy and geopolitical environment.
The event was done in partnership with BDO Unibank and KMC Savills. For photos from the event, go to NBCP Facebook page.
