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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.
II. Primer on Doing Business in the Philippines 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. 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.
Upcoming Events Import Documentation SeminarA seminar on Import and Export Procedures on Customs Common Bonded Warehouse (CCBW). |