Reasons forwarded include our distance from markets, inefficient logistics systems, the volatility of the exchange rate, the cost of labour in the manufacturing sector, skills constraints in the services industry, the lack of a venture capital culture and questions of economic policy certainty that detract from long-term investment.
Ladies and gentlemen. Another important event in our fight against money laundering is going to take place in a few days. From September 22 to October 6, 2008, the Philippines’ AML/CFT regime will be assessed by the World Bank and the Asia Pacific Group on Money Laundering (APG).