“The key to attracting more foreign investments in the years ahead is to create a business-friendly environment that promotes growth, innovation, and sustainability”
The March portfolio brought the cumulative FDI net inflows to $3 billion during the first quarter of the year, marking a 42-percent growth from the $2.1 billion recorded in the same period in 2023. The positive outlook for the domestic economy in the coming years is shared by HSBC Global Research, which said the country is likely to attract FDIs amid reforms that improved the country’s business climate.
These include the Ease of Doing Business Law, which was passed in 2017 to cut red tape and streamline government process, and the CREATE law, passed in 2021 to introduce a more competitive selection of tax incentives. From where we sit, we think in order to attract more foreign investments, the government should focus on implementing several key strategies.We should prioritize infrastructure development to improve transportation, communication, and energy networks.