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The Philippines and the Economy
Doing Business in the Philippines
I. Overview

The Philippines is one of the more dynamic markets in the global economy. Its general macroeconomic outlook improved significantly in recent years and the country has made promising headway towards more sustainable and equitable economic development.

Our natural pool of talents and culturally adaptable human resources position the country as the most value-for-money destination for investments in the Asian region. We place high-value on education that equipped our labor force with world-renowned technical competency and English proficiency.

Our generally liberalized policy environment and strategic logistics access point in ASEAN +3 gives us that competitive edge.

Bright spots in the economy include BPO, tourism, mining, agriculture, bio-fuels and renewable energy, and infrastructure. The Philippines is endowed with rich and diverse natural resources that provide seemingly unlimited opportunities.

With national economies and supply chains becoming more and more intertwined, we strive to expand and strengthen international investment agreements with capital-exporting countries to safeguard investors against economic volatilities and hedge against risk.

The government is well aware of the need to focus on total investor-related solutions to nurture investments. Going from strength to strength, the country's comprehensive strategy to attract capital inflows integrates secure and predictable economic conditions with business-friendly policies.

More than just a location, investing in the Philippines is about making that strategic business decision.

Source: Invest Philippines

Recent Investment Reforms


Source: National Competitiveness Council


II. Primer on Doing Business in the Philippines

Find out how to go through business procedures and requirements in this comprehensive guidebook on investments. It will direct you in every step of the way in putting up the business of your choice. Take a look.

III. Investment Priorities Plan A range of investment opportunities await businessmen interested to open a business in the Philippines. Learn more from the 2017 Investments Priorities Plan.

IV. Private Public Partnership (PPP) Center The Philippine Government recognizes the essential role of the private sector as the main engine for national growth and development. In accordance with this, pertinent incentives will be provided to stimulate private resources for the purpose of financing the construction, operation and maintenance of infrastructure and development projects normally undertaken by the Government.

The government is willing, on a case-to-case basis, to protect investors from certain regulatory risk events such as court orders or decisions by regulatory agencies which prevent investors from adjusting tariffs to contractually agreed levels. Such regulatory risk insurance could take the form of make-up payments from the government to PPP investors, other guaranteed payments, and adjustments to contract terms. The specifics of the type of protection to be offered by the government, and the mechanisms through which such protection will be offered will be part of the contract terms for each project. Such protection will only be offered for solicited projects which undergo a competitive bidding process.

Private sector investors will be selected through open competition under fair and transparent terms. All interested investors will be given a level playing field with reasonable returns and appropriate sharing of risks without compromising the protection of public interests. Through this program, end-users will be provided with adequate, safe, efficient, reliable, and reasonably-priced infrastructure services.

The projects under the PPP Program were selected based on various criteria. Read more

V. State of Philippine Competitiveness 

The Philippines implemented two key reforms during the past year, to improve the business climate for small and medium enterprises, says the World Bank Group’s Doing Business 2018: Reforming to Create Jobs. Responsible for an estimated 90% of employment in developing economies, the private sector is ideally placed to alleviate poverty by providing the opportunities to secure a good and sustainable standard of living.

The full report and accompanying datasets are available at www.doingbusiness.org

VI. Philippine National Trade Repository

The Philippine National Trade Repository (PNTR) is a web-based portal that provides a single source of comprehensive, accurate and up-to-date information on all trade related matters e.g. import, export etc. Its establishment is an important component of Government's trade facilitation strategy. A more transparent trade environment will allow business easier access to information and facilitate their compliance with prescribed regulations. The ultimate effect will be to reduce the amount of time and costs in trade transactions.

VII. Philippine Business Registry The Philippines Business Registry (PBR) is a Government-initiated project that facilitates business registration-related transactions by integrating all agencies involved in business registration, such as the Department of Trade and Industry (DTI), Securities and Exchange Commission (SEC), Cooperative Development Authority (CDA), Bureau of Internal Revenue (BIR), Social Security System (SSS), Home Development Mutual Fund (Pag-IBIG), Philippine Health Insurance Corporation (PhilHealth), Local Government Units (LGUs) and other permit/license-issuing agencies. It provides a faster process for business registration, thus strengthening the government’s effort of providing quality service to the people and realizing its commitment to curb corruption and reduce red tape in the bureaucracy.

 

 
 
 
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