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Business

Sokor banks eye Phl operations

Louella Desiderio - The Philippine Star

MANILA, Philippines - Banks from South Korea are interested in setting up operations in the country, the Department of Trade and Industry (DTI) said.

Trade undersecretary Ponciano Manalo Jr. told reporters that during his recent trip to South Korea, he met with financial institutions which would like to participate in our country’s banking system.

In particular, he said South Korean banks want to be able to “fully operate” in the country.

He said banks from other economies such as Japan, Indonesia, Malaysia, Singapore and Taiwan have also expressed similar interest.

The banks are keen on setting up operations in the country given the country’s economic growth story and overall improvement in the investment climate.

The country is also seen as a gateway to the Association of Southeast Asian Nations (Asean), which has a population of 600 million.

 

vuukle comment

ASEAN

ASSOCIATION OF SOUTHEAST ASIAN NATIONS

BANKS

COUNTRY

DEPARTMENT OF TRADE AND INDUSTRY

PONCIANO MANALO JR.

SINGAPORE AND TAIWAN

SOUTH

SOUTH KOREA

SOUTH KOREAN

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