stration; with a raft of economic liberalisation measures having set the stage for further growth in 2022. The incoming government is already planning to prioritise infrastructure, digitalisation, and retail, among other sectors, which will provide significant opportunities for foreign investors and businesses.
As the country lowered its quarantine restrictions to Alert Level 1 beginning in March, reduced granular lockdowns, and shifted from a pandemic to an endemic outlook, its economy has recovered with businesses gradually reopening and more jobs being created. The Philippines aims to achieve a growth target of 7 to 9 per cent this year, with its robust economic performance enabling it to be ready to take action against any external risks.
From being an inward-looking economy, the Philippines has pushed for new laws and programmes to make the country an ideal destination for more foreign investments that promote sustainability, resilience, and digital innovation.
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