(from left) First Secretary and Consul Mersole Mellejor, Philippine Trade & Investment Centre(PTIC)-Singapore Commercial Counsellor Glenn Peñaranda, Honorable Antonio Morales, Philippine Ambassador to Singapore, Jordyn Arndt, AmCham’s Research Director, and Thomas McNutt, AmCham’s Public Affairs and Government Head at the Embassy of the Philippines in Singapore.The American Chamber of Commerce in Singapore presents to the Philippine Embassy in Singapore the findings of the ASEAN Business Outlook Survey 2016. Each year, AmCham Singapore collaborates with the U.S. Chamber of Commerce and other AmChams in the region to survey senior members from U.S. companies to gather insights about business conditions and sentiment in APAC. AmCham’s annual ASEAN Business Outlook Survey shares the insights of senior American business leaders located across the ASEAN region. These respondents are charged with making investment decisions on behalf their companies, offering them a unique opportunity to shape the character of development across ASEAN.
This year’s respondents remain generally optimistic about business prospects in the ASEAN but the optimism has gradually declined over the past few years. In terms of future priority areas of work to enhance regional economic integration, survey respondents placed the greatest emphasis on overcoming non-tariff barriers to trade, increasing transparency, and promoting good governance.
For the Philippines, 71 percent of respondents plan to expand in the country, while 67 percent reported that they expect their workforce in the Philippines to increase in 2015. Seventy-six percent of the respondents indicate that their companies’ level of trade and investment in the ASEAN region has increased over the past years while 86 percent expect the level to increase over the next five years. For profit outlook, 81 percent anticipate increase in 2016.
Survey also shows that Philippines continues to be attractive to companies because of the availability of trained personnel at competitive cost.
For the complete survey, visit: www.amcham.org.sg