About the Philippines | (2024)

It is the natural gateway to the East Asian Economies, having one of the most active and resilient economies in the Asia-Pacific region. It is one of the largest archipelagos in the world having about 7,107 islands and islets divided into three major island groupings called Luzon, Visayas and Mindanao.

Situated 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. It is serviced by 22 airlines, proximity by aircraft to major cities like Hong Kong and Taipei (1.4 hr.), Seoul, Tokyo and Singapore (3.5 hrs.), Sydney (8 hrs.), US West Coast (14 hrs.), Europe (12 hrs.).

The Filipino workforce is one of the most compelling advantages which the Philippines has over any other Asian country. There is an abundant supply of quality labor with a large pool of generally well-educated, highly trainable, competent, creative and conversant English-speaking labor force which can address the companies’ needs at many levels – from the rank-and-file, to middle management and senior executives offering world-class financial, legal, accounting and other critical services.

The Filipino’s primary language is Filipino, but like western countries, English is the language which is being used and taught in all schools, making the Philippines the world’s third largest English-speaking country. It is also widely spoken and understood and the language used for most business and legal transactions.

Linking the three major islands and distinguishes the Philippine economy is a well-developed communication, transportation, business and economic infrastructure. 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.

A business-ready regional investment sites are constantly being done. The government has been establishing Regional Growth Centers, Special Economic Zones and Industrial Zones equipped with full infrastructure support by way of power, road networks, telecommunications and other utilities that effectively direct job-creating project to the countryside.

The Philippines attracts foreign-based companies with its foreign investment law which opens more investment areas to 100% foreign equity in almost all sectors, and supports a Build-Operate-Transfer (BOT) investment scheme that other Asian countries emulate. The banking, insurance, shipping, telecommunications and power industries have been deregulated and are being privatized by Government corporations.

Incentive packages are at par with other ASEAN countries. Corporate income tax for companies in Special Economic Zones are reduced from a current 32% tax rates. They also enjoy Income tax holidays, Capital equipment incentives, Employment of foreign nationals in selected positions, Basic privileges and guarantees remittance of profits and payment of foreign obligations and repatriation of investments. Multinationals looking for regional headquarters are entitled to incentives such as tax exemptions and tax and duty-free importation of specific equipment and materials.

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 foreigners and expatriates who enjoy the company of the warmest people in the region, the country’s openness to varied cultures, festivals and a decidedly global outlook.

The amenities and services make it easy for them as well as their families to relocate. Excellent housing, with added bonus of easily affordable housing services and luxuries. Business centers, schools, modern hospitals and health care services, shopping malls, hotels and restaurants, beach resorts, and recreation centers are some of the pluses which make executive life a pleasant experience.