With the booming of the Philippine economy, there are excellent investment opportunities for foreign actors in the Philippines and fiscal and non fiscal incentives are granted to enterprises located in certain areas and economic sectors. Foreign investment in what is already nominated the rising Asian “tiger” is growing and although the Philippine economy with a large agriculture, is already dominated by manufacturing and services.
The Philippines has been liberalizing its markets though progressive tariff reduction program and multinationals look at this country and its qualified and young workforce as the ideal place to establish their operations manufacture and export their products/services. Main lucrative areas are infrastructure development, business process outsourcing, shipbuilding and mining (with an estimated $1 trillion in mineral wealth).
Major industries include automotive, electronics, textiles, and food processing. However, it is the services sector that is the pillar of this economy, especially driven by Business Process Outsourcing. The Philippines is the call center capital of the world and BPO industry earned an impressive amount of US$11 billion in 2011.
Other key sectors in this country are infrastructure development, partially supported by government spending with its 21 Public Private Partnerships (PPP), and real estate industry that is now on a growth trajectory and is expected to compete with Singapore, Vietnam and Indonesia. 100% foreign ownership is allowed and this is the best time for locals and foreigners to acquire more properties
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