Why invest in the Philippines? There are so many things that will attract you to invest in the Philippines and I will share with you six primary important things which are very necessary to consider if you are interested to invest in the Philippines.
- Strong US $ inflows
- The Philippines has now more in its wallet to handle the situation.
- The Philippines continues enjoy investments grade ratings.
- Great opportunity to invest for a great value.
- Robust growth in construction and tourism, generating jobs.
- The Philippines is growing faster than our Asian peers.
Here are some further business insights for you and why you should consider investing in the Philippines as a top priority investment:
1) Workforce – 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.
2) 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.
3) 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.
4) 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 producers of gold in the world. It is also home to 2,145 fish species, four times more than those found in the Bahamas.
5) Low Cost of Doing Business – Foreign companies that are now outsourcing programming and business processes to the Philippines estimate 30%-40% business cost savings. Local communication, electricity, and housing costs are also 50% lower compared to the US ratare development. The taxes are low coast and easy to get mayor permit from a particular city. The roads are well maintained for a import and export of the products.
6) Developing Infrastructure for Global Growth -A well-developed communication, transportation, business, and economic infrastructure links the three major islands — Luzon, Visayas, and Mindanao . The container terminals are well prepared to handle the traffic of cargo ships.
7) Unlimited Business Opportunities – Asian economies integrate within the vast framework of the ASEAN Free Trade Agreement , 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 is also part of various Free Trade Agreements which promotes very competitive tariff rates. This means that by investing in the Philippines there is a higher assurance of your Return Of Investment (ROI).
Here are the various free trade agreements and tariff rates categories:
- Most Favoured Nation
- ASEAN-Australia-New Zealand Free Trade Area
- ASEAN-China Free Trade Area
- ASEAN-India Free Trade Area
- ASEAN-Japan Comprehensive
- Economic Partnership Agreement
- ASEAN-Korea Free Trade Area
- ASEAN Trade in Goods Agreement
- Philippines-Japan Economic Partnership Agreement
Would you invest in the Philippines after reading the information above? What hesitates you from investing in the Philippines? Share with us your thoughts.
Thanks for reading!