Business and Investments in the Philippines
The Philippines is the 3rd largest English speaking country on the planet, allowing its manpower to possess a distinctive edge over nearby countries when it comes to labor quality. The workforce is trainable as well as typically competent. Between the Pacific Ocean as well as the South China Sea, the ideal location can make it a vital access point to several 500 million individuals within the ASEAN market – providing huge trade opportunities – as well as an ideal foundation for business. Additionally, it is the best Asian nation when it comes to general quality of expatriate living, thinking of its cultural compatibility along with expatriates, sporting, housing, and recreational amenities, high quality healthcare, and first-rate schools.
As an archipelago, the Philippines has plenty to offer also with regards to natural resources. The 7,100 islands feature many black and white sand beaches, which makes it very appealing to vacationers as well as tourists. Its astounding marine biodiversity offers ample varieties of flora and fauna. Land is also one of the biggest producers of copper as well as gold on the planet.
Government business policies are investor-friendly, however the government was affected with extreme corruption previously. The corruption issue is now wiped by the new government. Many investors can surpass this problem with the ideal representative within the public and private network like a foreign investor liaison (FIL). The Philippine government has permitted a lot more participation from the private sector in the infrastructure development and services via privatization.
It was considered that the Philippines is Asia's brand new BIG Investment hub. Based on Japan External Trade Organization JETRO 2010, the nation carries a lower labor cost at $130 compared to China's $141 as well as $139. The nation is likewise catering special tax credits for overseas investors for specific industries.