RP remains high in favored list of int’l investors

A global corporate law firm remains confident about the Philippine’s business climate despite the perceived instability caused by the volatile peso, the forthcoming national elections, rising interest rates and the peace and order problem.

Baker & Mckenzie chairman Christine Legarde, who was here recently, said the Philippines remains to be on the list of favored destinations by the international business community.

"It’s a part of the world where there is clearly a lot of interest at the moment from the international community. While everybody looks very heavily on China, the Philippine market is also a place where foreign dollar investment goes and will continue to go," Legarde said.

"Where you have a population with a potential purchasing power, either in the short, medium or long-term, there is a valid reason to invest. And clearly, the Philippines is one such market," Legarde said.

When asked whether the worsening peace and order situation in the country could pose as a setback for foreign companies to invest in the Philippines, Legarde said: "The issue of security around the world is very sensitive, it’s everywhere. Its not an issue for the Philippines, its not an issue for France, its not an issue for the US. It’s a global issue and clearly those threats know of no boundaries and no barriers. The security sensitivity is just shared everywhere, it‚s not specific to a country," Legarde said.

Since 1949, Baker & Mckenzie has built a legal practice of global proportion. Today, with 66 offices in 36 countries, the company conducts business in the world’s most significant financial and commercial centers. Staffed by locally qualified attorneys intimately familiar with the legal and business practices of their market and region, Baker & Mckenzie’s offices comprise a seamless global network.