Investing and working in the Philippines
Why invest in the Philippines ?
Companies wishing to invest in the Filipino market have long understood the potential of the domestic market: a population of over 100 million, mostly young people. The Philippines can rely on a certain number of assets to make the most out of the opportunities offered by global economic integration. A significant part of the population speaks English. This can be traced back to American presence in the archipelago during the first half of the twentieth-century. The country was then an American protectorate. When the Philippines became independent in 1945, things looked promising as they were considered the wealthiest country in Asia after Japan. Unfortunately, political turmoil did not allow this potential to be realized. In 1997, the country was hit by the economic crisis of 1997, as the other Asian countries, although not as hard. The economy has recovered since then.
Aspects to monitor when investing in the Philippines
Operations and investment projects in the Philippines need to be accompanied by a robust physical security programme. The country suffers from a certain political instability due to persistent problems of corruption. Moreover, an armed rebellion in Mindanao, in the Muslim part of the country in the south, has aggravated the situation.
Lastly, typhoons regularly affect the islands, some with devastating intensity such as Hayian in 2013, the strongest to date.
IAS8´s recommendations in the Philippines
Access to unbiased information is relatively challenging in the Philippines, and it is therefore recommended to call upon specialised services to assist you in understanding the local context.