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PHILIPPINE ECONOMIC MANAGERS TARGET FOREIGN INVESTMENT.
MANILA, Sept 2 Asia Pulse - The country's economic managers vowed yesterday to recapture the flow of foreign funds, mainly US funds, that used to be invested in emerging markets like the Philippines but are now being channeled elsewhere.
The Investor Relations Offices (IRO) said the recapture of such fund flow was the mission of Bangko Sentral ng Pilipinas governor Rafael Buenaventura and Finance Secretary Jose Isidro Camacho who have embarked on a global road show to sell the Philippines as a desirable investment destination.
IRO executive director Corazon Guidote said Friday Buenaventura and Camacho have embarked on a confidence-building mission to try to get back the redirected foreign fund flows.
"We want to capture the flow of funds out of the US and into the Philippines. We want to change that (flow of funds missing the Philippines)," Guidote stressed.
She said the Philippines last met its foreign creditors and investors in Shanghai, China in May and reconnected via teleconference just last week.
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Source: HighBeam Research, PHILIPPINE ECONOMIC MANAGERS TARGET FOREIGN INVESTMENT.