Moody's upgrade or the Philippines.
As expected, the Phil's have officially become an emerging market. Moody's and the IMF have increased the credit rating of this emerging society. Take one look at the streets of Makati, the Mall of Asia, or the housing developments of Davao, you will realize something is happening. I compare the tech boom in emerging Asia, to the tech surge of the 80's in the US, this is the wild west, and it is ready for action. At present, most licenses and permits are given via local civil officials, eventually, this will change.
On a recent visit to HK, I noticed the strict standards imposed by the SAR, or limited capitalistic regime of HK, a similar autocratic system is fixated in Vietnam, this will thwart progress and opportunity. Not so in the Phil's, now is the time to process your permits before nationalization of standards and services.
As for tech access, the citizens are rapidly demanding higher internet speeds, better graphics and improved tech services. Can the Phil's compete against Vietnam or India? No, and they do not desire this path. Much like most emerging markets they are focused on higher tech products that provide higher wages and relevant growth, good luck and keep growing.
AF
On a recent trip to Manila, rapidly turning into the HK of Southern Asian, good work!
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