The Philippines : beyond the crisis

The Philippines economic performance has improved significantly since the early 1990s due to far reaching economic reforms and a return to political stability. The country’s post-war history was one of missed opportunities due to poor policies and political upheaval. Thus far the Philippines has weathered the Asian crisis better than many of its neighbours. Australia’s exports to the Philippines have surged and increasing numbers of Australian Companies have established an on-the-ground presence. This report examines new challenges and opportunities presented by the Asian crisis, as well as the Philippines progress in addressing longer standing impediments to economic success. Financial sector health, peso depreciation effects, trade and investment regimes, the business environment, issues in infrastructure provision, mining policy and agriculture and Australian business opportunities are all evaluated.