| THE PHILIPPINES |
WHY INVEST IN THE PHILIPPINES
People Power | Strategic Business Location |
First-class Lifestyle | Abundant Resources |
Low Cost of Doing Business | Liberalized & Business-Friendly Economy | Unlimited Business Opportunities | Developing Infrastructure for Global Growth | All You Need and More |
People Power
The Filipino workforce is one of the most compelling
advantages the Philippines
has over any other Asian country. With higher education priority, the literacy
rate in the country is 94.6% - among the highest. English is taught in all
schools, making the Philippines
the world’s third largest English-speaking country. Every year, there are some
350,000 graduates enriching the professional pool.
Strategic Business Location
The Philippines
is located right in the heart of Asia – today
the fastest growing region. It is located within four hours flying time from
major capitals of the region. Sited at the crossroads of the eastern and
western business, it is a critical entry point to over 500 million people in
the ASEAN market and a gateway of international shipping and air lanes suited
for European and American businesses.
First-class lifestyle
Discover the best of sun, sea, sand and style in the
tropical setting teeming with the best of western amenities. The Philippines is
second home to expatriates who enjoy the company of the warmest people in the
region, the country’s openness to varied cultures and a decidedly global
outlook. Expats enjoy accessible and affordable luxuries – business centers,
housing, schools, hospitals, shopping malls, hotels and restaurants, beach
resorts, and recreation centers.
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Abundant resources
An archipelago like the Philippines offers diverse natural
resources, from land to marine to mineral resources. It is also the biggest
copper producer in Southeast Asia and among the
top ten producer of gold in the world. It is also home to 2,145 fish species,
four times more than those found in the Bahamas. The 7,100 islands boast of
beautiful beaches and breathtaking sceneries that offer soothing leisure and
relaxation spots for vacationers and tourists.
Low cost of doing business
Wages are typically less than a fifth of that in the
U.S. Local communication, electricity and housing costs are also 50% lower
compared to the U.S.
rates. Foreign companies that are now outsourcing programming and business
processes to the Philippines
estimate 30 to 40% business cost savings, 15 to 30% call center services and
application systems and 35 to 50% software development.
Liberalized and Business-Friendly Economy
An open economy allows 100% foreign ownership in
almost all sectors and supports a Build-Operate-Transfer (BOT) investment
scheme that other Asian countries emulate. Government corporations are being
privatized and the banking, insurance, shipping telecommunications and power
industries have been deregulated. Incentive packages include the corporate
income tax, reduced to a current 32%, with companies in the Special Economic
Zones are subject to only 5% overall tax rates. Multinationals looking for
regional headquarters are entitled to incentives such as tax exemptions and tax
and duty-free importation of specific equipment and materials.
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Unlimited business opportunities
As Asian economies integrate within the vast
framework of the ASEAN Free Trade Agreement (AFTA), the Philippines is
the natural and most strategic location for firms that want access to the large
ASEAN market and its vast trade opportunities. The Philippines has enhanced and primed
up various areas for investors and offers a dynamic consumer market accustomed
to an array of product choices created by a competitive domestic economy.
Developing Infrastructure for Global Growth
A well-developed communication, transportation,
business and economic infrastructure links the three major islands and
distinguishes the Philippine economy. Highly accessible by air, water and
cyberspace, liberalization of inter-island shipping and domestic aviation
further sparked improved facilities and services. The container terminals are
suited to handle cargo traffic at the highest levels of efficiency. Communication
provides redundant international connectivity 24/7 with fiber optic cable as
primary backbone network and satellite as backup. Economic reforms emphasize
regional growth, converting remote areas into business centers. The landmark BOT
legislation allows private investors to build and operate infrastructure, then
turn it over to the Philippine government after a set period of time.
All you need and more
The Philippines
offer state-of-the-art telecommunications facilities, adequate and
uninterrupted power supply. There are ready-to-occupy offices and production
facilities, computer security and building monitoring systems, as well as
complete office services in specialized IT zones. With the government's focus
on building up an IT-enabled economy, the Philippines is on its way to
becoming the E-services Hub of Asia.
An archipelago like the Philippines offers diverse natural
resources, from land to marine to mineral resources. It is also the biggest
copper producer in Southeast Asia and among the
top ten producer of gold in the world. It is also home to 2,145 fish species,
four times more than those found in the Bahamas. The 7,100 islands boast of
beautiful beaches and breathtaking sceneries that offer soothing leisure and
relaxation spots for vacationers and tourists.
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SCENIC PHILIPPINES |
