Turkey has the potential to attract $10 billion in FDI in the next five years

Turkey now receives investments from more than 4600 foreign enterprises within the country (The General Directorate for Foreign Investment). FDI inflows went up to $9.5 billion in 2005, with major investors being Toyota, Honda, Ford, Oracle, P&G, Philip Morris and Siemens. As per a report by Foreign Investment Association 2005 Barometer, Turkey has the potential to attract $10 billion in FDI in the next five years and $15 billion in five years after that. And the confidence is clearly reflected in the words of Tezcan Yaramanci, Chairman of the Foreign Economic Relations Board (DEiK), “Turkey can provide sustainable growth to investors for the future and will not return to the kind of crisis seen in 2001.” The sectors that appear the most tempting are banking and financial services. General Electric is planning to buy about 50% of Dogus Group’s $6 billion Garanti Bank.

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Source:- IIPM Editorial

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THE IMPORTANCE OF EXECUTION AND GOVERNANCE

Identifying the right growth strategy is critical for building a world-class business, but execution and governance determine whether companies in emerging markets can realize their potential. While that may be true about building great companies anywhere, our research suggests that excellent execution and good governance are particularly valuable in newly industrializing countries. Financial and talent resources in emerging markets are scarce, but companies that can execute well end up getting more out of them.

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Source:- IIPM Editorial

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Philippines outlook

BALANCE OF PAYMENTS: SURPLUS

Philippines is comfortably positioned on the Balance of payment (BOP) front, as it enjoyed a current account surplus of $2.3 billion in 2005. The overall BOP balance improved considerably, from a negative of $280 million in 2004 to a positive of $2.4 billion in 2005. Trade deficit for the year 2005 totaled $7.5 billion, while the figure for 2004 was $5.6 billion. External debt of Philippines mounted to a whopping $54.84 billion in 2005, compared to $54.18 billion in 2004.

CPI: COST OF LIVING

Inflation has not been a concern across East Asia since the crisis-preceding booms of the middle 1990s, but increasing energy prices have affected the general price levels. Inflation, as measured by Consumer Price Index, increased by 7.6% in 2005, as compared to 6% in 2004; core inflation increased by 7% in 2005.

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Source:- IIPM Editorial

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