Manila, Philippines, February 15, 2008 - Oxford Business Group (OBG), the highly acclaimed global publishing, research and consultancy firm, has launched its first annual authoritative guide on the Filipino economy, The Report: The Philippines 2008.

Rated as the premier guide for foreign direct investment into the country’s vibrant economy, The Report is an invaluable guide to the many facets of the Philippines, including its macroeconomics, infrastructure, political landscape, banking and sectoral developments, and presents a remarkably in-depth profile of the country’s diverse economy.

The Report: The Philippines 2008 publication has been introduced by OBG in association with its main research partner Bangko Sentral ng Pilipinas (IRO).

The 200-page first annual OBG report on the country, a 9 month long in-depth research by a team of more than 6 analysts who conducted some two hundred interviews with leading political and economic figures. 

The Report: The Philippines 2008 features a series of exclusive interviews with key officials and business leaders in what is considered the most extensive, independent, unbiased and accurate intelligence available.

Jaime Augusto Zobel de Ayala, Chairman and CEO, Zobel outlined the Filipino economy’s advantages in the global marketplace.

“The Philippines has a natural advantage in the services sector. The government over the past few years has made efforts to position the country as the ‘e-services hub of Asia’. As such, the Philippines is one of the most aggressive country players in targeting the outsourcing market in the US, Europe, and neighboring Asian countries”

Mr. Zobel also outlined how what reforms are essential to allow the Philippines to stay ahead of the investment curve.

“ We need better and more effective execution of policies and programmes; elimination of the school building backlog; uncontroversial, timely and on-budget completion of infrastructure projects; and proper spending of 2007 budget appropriations by national government agencies. We also need stronger collaboration between the national government and local governments in order to expand the role and performance of local governments because the latter can be powerful engines of broad-based economic growth if they connect with the appropriate policy directions, technical knowledge and economic opportunities.”

President Gloria Macapagal-Arroyo also reveals the priorities for the government in the short term.

“The next three years will be dominated by three key goals: invest, invest and invest some more. We will increase investment in our country and our people in order to: 1) improve our infrastructure to create a modern business environment, from high-tech back bones to ports, bridges and roads; 2) improve social services such as health insurance and school nutrition programmes; 3) boost educational support in our efforts to reduce poverty by investing in better school buildings, new text books and teaching materials, and training programmes for teachers and school administrators; and 4) cut red tape and continue to eliminate corruption from the system.”

Available in print form and online, The Report: The Philippines 2008 has been produced with OBG’s official national partner, Bangko Sentral ng Pilipinas, Makati Business Club (MBC) as a research partner, Punongbayan & Araullo as accountancy partner, First Metro Investment as capital market partner, and ACCRA Law Offices as legal research partner.

It is part of the range of OBG’s publications, which are renowned as leading sources of information on developing and emerging economies around the world.

The team is now preparing for The Report: The Philippines 2009.

About Oxford Business Group

Oxford Business Group (OBG) is a global publishing, research and consultancy services firm. OBG publishes economic and political intelligence on the markets of Asia, The Middle East, North and South Africa, and Eastern Europe. Through its range of print and online products, OBG offers comprehensive and accurate analysis of political, macroeconomic and sectoral developments, including banking, capital markets, energy, infrastructure, industry and insurance.

Written by a team of seasoned analysts, based on the ground for six months, the critically acclaimed series of economic, political and business reports have become the leading source of intelligence on the rapidly developing countries in the regions they cover. OBG’s online economic briefings provide up-to-date in-depth analysis on the issues that matter for thousands of subscribers worldwide. OBG’s consultancy arm offers tailor-made market intelligence and advice to firms currently operating in these markets and those looking to enter them.

For more information please contact:
Philippine PR Agency Dominguez Marketing Communications, Inc.   Mel Dominguez mel@dominguez.com.ph Sam Fontanilla sam.fontanilla@dominguez.com.ph Tel – (632) 897 7088 / 890 3766	Caroline Couronne Oxford Business Group Tel – 751 1142 ccouroune@oxfordbusinessgroup.com