The Philippines is fast becoming the preferred haven for foreign investments in the Asia-Pacific region. Its investment climate is conducive more than ever to foreign investors.
It has a continuing economic and financial reform program to be more competitive in the international market. It has rid itself of excessive government regulations and has liberalized all sectors of its economy.
Telecommunications, shipping, oil, banking, and insurance industries have been deregulated. Strategically located, the Philippines provides a natural gateway to other Asia-Pacific economies. It has flourishing trade links with its Asian neighbors due to shared history, cultures, and tradition.
Democracy is at its best with true checks and balances in the Executive, Legislative, and Judicial branches of government. Freedom of speech is upheld at all times and the Philippine press remains the freest and most open in Asia if not in the world.
Economic reforms are in place and continues to be improved. Business is liberalized, promotional and less regulatory, and attuned for global competition.
Basic rights and guarantees of investors include repatriation of investments, remittance of earnings, access to foreign loans and contracts, freedom from expropriation and non-requisition of investments.
Full (100%) foreign ownership of enterprises.
Facilitative assistance and simplified investment procedures.
Priority investment projects are in export-oriented industries, among others.
Abundant supply of quality labor with a large pool of knowledge-based, multi-skilled, highly-educated, highly-trainable, literate, English-speaking workforce. Low employment turnover (less than 1%), high productivity yields, highly adaptable to model changes, and familiar to quality work needs.
Foreigner-friendly people. Culturally adaptable people. World-renowned for their hospitality.
Ideal place for expatriates and their families. Availability of quality primary, secondary and tertiary education. Housing facilities meet western standards at very reasonable rates. Availability of quality health care services. Best sporting and recreational facilities.
A market composed of 76.5 million Filipino consumers.
GSP Advantage. Under the Generalized System of Preferences (GSP), the Philippines continues to enjoy tariff preferences when exporting various products to developed countries such as the United States and those in Europe. In contrast, many of the neighboring countries in Asia no longer enjoy this advantage, thus giving the Philippines an edge in competing for the export market. What is also significant is that the country is still a long way from being graduated from these GSP privileges, so investors can look forward to enjoying them for some time to come.