Citi remains bullish about the growth prospects in Asia, as global investors turn to the region in the face of volatility in Europe and North America and general uncertainty in the markets.
Citi shared key investment trends and macroeconomic views during the Citi Investor Conference 2018 at the Citi Plaza building in Taguig.
According to Julia Raiskin, head of Investor Sales, Asia Pacific, at Citi , global fund managers are investing in equities and fixed income as top choices, with local currency bonds becoming increasingly attractive.
Citi notes that intra-Asia trade corridors have the potential to pick up slack from China and U.S. supply chains that may be threatened.
Philippine equities are underweight in Citi’s global equity allocation due to broad-based, cyclical upswings and the performance of other economies, explained Chua. But recent data has been good, given increased government spending and the peso stabilizing.
To spur further growth, Citi says the key is more foreign direct investments.
Infrastructure is seen as a key growth driver, especially the government’s ongoing ‘Build, Build, Build’ program. Additional growth drivers include services exports such as tourism, manufacturing with preferential tax treatments, and agricultural development and energy.
Overall, Citi explained that last year was a good year for everybody and moving forward, 2018 is progressing well.
Citi’s GDP growth projection for the Philippine economy is 6.9% in 2018.
Photo above: (L-R) Citi Investor Sales Asia Pacific head Julia Raiskin, Citi Philippines Country Treasurer and Global Markets and Securities Services head Paul Favila and Citi Asia Pacific Economic and Market Analysis head Johanna Chua
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