US business in RP more optimistic
American business in the Philippines are the second most optimistic in Association of Southeast Asian Nations, second only to Singapore, according to a survey by the ASEAN Business Outlook Survey 2010.
The American Chamber of Commerce in Singapore conducted the survey in collaboration with The American Cambodian Business Council, The American Chamber of Commerce in Indonesia, The American Chamber of Commerce of the Philippines, The American Chamber of Commerce in Thailand, The American Chamber of Commerce in Vietnam, and The American Malaysian Chamber of Commerce.
The ASEAN Business Outlook survey, which is now in its ninth year, seeks to understand the outlook on business growth and perceptions of doing business in ASEAN. Around 328 senior executives from U.S. companies in Cambodia, Indonesia, Malaysia, Singapore, The Philippines, Thailand, and Vietnam were surveyed using a web-based survey instrument.
Based on the survey, 66 percent of total respondents said they expect their profits to increase in 2010, while 82 percent said they expect profits to increase in 2011.
The most optimistic country was Singapore, with 73 percent expecting profit increases in 2010, followed by the Philippines (72 percent). Respondents in Malaysia and Indonesia were the most pessimistic, with 40 percent of respondents in Malaysia and 28 percent of respondents in Indonesia expecting static profits in 2010, while another 11 percent of Indonesia respondents expect a decrease in profits.
The survey further said that respondents in the Philippines show increasing optimism about the future of the local economy.*
