The Philippines is among the world’s top 20 investment destinations according to the United Nations Conference on Trade and Development (UNCTAD).
In UNCTAD’s World Investment Prospect for 2013 to 2015 report, the Philippines ranks 19th among top 20 investment destinations in the world, sharing the same spot with Hong Kong and Turkey.
The Philippines did not make the top 20 list for the last three years, but finally made it this year according to the survey gathered from February to May 2013 among 161 transnational corporations and 64 investment promotion agencies.
China is the top destination for investments followed by the United States and India.
Other countries which made it to the list of top prospective host economies were Brazil, Germany, Mexico, Thailand, United Kingdom, Japan, Russian Federation, Vietnam, Australia, Poland, South Africa, Canada, France and Malaysia.
In the report, the developing country regions such as East Asia and Southeast Asia are considered highly important in terms of foreign direct investments (FDI).
The UNCTAD said in its World Investment Report 2013 released earlier that FDI inflows for this year are projected to be at the same level as last year’s, with an upper range of $1.45 trillion.
As confidence in the investment environment improves, the UNCTAD said the FDI flows are expected to reach levels of $1.6 trillion next year and $1.8 trillion in 2015.
But while TNCs are still cautious of the investment environment, IPAs were more optimistic in their assessment of the global investment climate with 29 percent saying they have a positive outlook on the investment environment.
For 2015, 78 percent of the IPAs said they are optimistic of the investment environment.