PHILIPPINES: Foreign Investors Still Have Confidence In The Country
Foreign investors' confidence in the Philippines is continuing to grow despite the global economic slowdown, officials of a leading foreign textile company told President Gloria Macapagal-Arroyo during a radio show. Indophil Textile Inc president, Vikei Malu, told listeners that while the September 11 attacks in the US triggered a downturn in the global economy, factors such as a stable peso-dollar exchange rate meant the Philippines was not hit as badly as other countries.
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