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Economy

Philippine appetite for saving, investment growing

SINGAPORE -- Japanese financial institutions in the Philippines are stepping up efforts to capitalize on rising incomes and a trend toward saving and investment in a society known for its spending habits.

The number of accounts newly opened for securities investment is sharply increasing as the country's middle class expands and an appetite for investment grows. With trends toward saving money gathering steam as well, the ratio of households with savings has now topped 30% of all households.

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