The Paris-based International Chamber of Commerce said the Philippines remains one of the economies in the region insulated from the effects of the global economic downturn.
This was the observation of Dr. Victor Fung, chairman of the ICC.
Dr. Fung is the first chairman from Hong Kong of the ICC, the largest, most representative business organization in the world with hundreds of thousands of member companies in over 130 countries spanning every sector of private enterprise.
“I think the Philippines is one of the economies in the region that has been relatively insulated from this tsunami. I am very impressed with the way the Philippine economy has functioned,” Dr. Fung said.