About the Philippines – Why Invest Here?Why do business and invest in the Philippines?
(from the Philippine Embassy website)
Strategic geographic location
- The Philippines lies in the heart of Asia, today’s fastest growing economic regionIts strategic location makes it a potential gateway to more than 550 million peoples in the Southeast Asian marketIt is less than two hours to Hong Kong and within four hours flying time from Southeast Asian capital cities and most major cities in AsiaIt lies astride major international shipping and air lanes, making it suitable for European businesses
Abundant mineral resources
- The Philippines abounds in both metallic and non-metallic mineral resources. It is the biggest copper producer in Southeast Asia and among the top ten producer of gold in the world. Other metallic minerals found in the Philippines include cadmium, chromium, iron, manganese, mercury, molybdenum, nickel, silver, and zinc.Non-metallic mineral resources consist of asbestos, asphalt, coal, guano, gypsum, limestone, marble, petroleum, phosphate rock, salt, silica, and sulphur.
Quality human resources
- The Philippines has a highly skilled and educated workforce that speaks very good English. English is widely spoken throughout the archipelago and is the official business language.t is the world’s third largest English-speaking country and produces close to 400,000 graduates a year, adding to an already large professional pool.Has a literacy rate of 94.6%, which is among the highest in the region.Its people are friendly and are familiar to the cultures of the East and the West, making the country an ideal second home to expatriates and providing a comfort level for most European business people.
- Has a well-developed network of communications and transportation infrastructure that links the three largest islands of Luzon, Visayas and Mindanao. These islands are highly accessible by land, water and cyberspace.Its specialized IT zones provide ready-to-occupy offices and production facilities, computer security and building monitoring systems, as well as complete office services.
Liberalized and Business-Friendly Economy
- Government policy actively encourages foreign investments in practically all sectors of economy and provides incentives to investment activities that encourages national developmentProvides incentive packages that include corporate income tax, reduced to its current 32%, while companies operating in special economic zones are subject only to 5% overall tax ratesEconomic reforms emphasize regional growth, converting remote areas into business centers
Our recently added production plant in China is located in Tangxia, Guandong. This excellent location is a 1½ hour drive from Hong Kong or 45 minute drive from Fuyong Ferry Terminal with direct connections to Hong Kong (Kowloon) and HK Airport. The production site has been set up to serve our customers in Southern China. The operating procedures, equipment and staff training are identical with our Philippine operations.