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Additionally, over the next six years the Duterte administration is aspiring for an annual GDP growth rate within the range of 7 to 8 percent. With the robust economic growth, the Philippines ranked as the number one country to invest in for 2018 by the US News & World Report, a recognized publication for rankings guided by the World Bank Group. Accordingly, the Central Bank of the Philippines also disclosed that foreign investors continue to view the country as a favorable investment destination based its sound macroeconomic fundamentals and growth prospects. The Philippines recorded another all-time high in Foreign Direct Investments (FDI) in 2017. As illustrated on the Table 4, the country’s net FDI last year has reached USD 10 billion, up by 21.4 per cent compared to 2016. As of December 2015, the current account recorded a deficit of USD 1.3 billion, Foreign Direct Investment (FDI) increased by USD 699 million, direct investment abroad expanded by USD 121 million, foreign portfolio investment increased by USD 1.1 billion, and the country’s nominal GDP was reported at USD 87.4 billion. The experienced FDI growth can be attributed to the government programs such higher infrastructure spending, easing of economic restrictions in the Constitution, and tax reforms aside from the country’s comparative advantage of having young and hard working English-speaking workforce that are familiar with both Asian and Western values. Most Philippine economists are pleased with the recent FDI developments and viewed it as a strong indicative of foreign investors’ confidence with the reform minded government. Since the Philippines’ poor infrastructure has been deterring greater FDI flows, Trade Secretary Ramon Lopez commented that he sees the country having a stronger position as one of the most preferred FDI destinations in the region in the next few years given the huge and relevant infrastructure spending and trade and investment reforms of the government

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