Vietnam’s imminent IT boom Vietnam’s status as a rising star has been further propelled by its handling of the pandemic. And while its trade balances, manufacturing prowess and social indicators have all been impressive, it is the information technology sector that has been shining the brightest. The communist state is in midst of an IT… Continue reading Vietnam’s Imminent IT Boom
Digital business prospects in Indonesia Globally, the pandemic has fast forwarded the adoption of digital technologies and nowhere does this ring truer than the emerging nations of ASEAN. The fact that digital transformation is crucial for business longevity has been accepted for some time now, but the stay-at-home restrictions accelerated the need and justification for… Continue reading Digital Business Prospects in Indonesia
How to (not) fail in ASEAN Next time when you pick up a breakfast sandwich and chai latte at a Starbucks in Indonesia, spare a thought for the vanishing old Subway or the once fiery Nando’s. Western fast-food chains have consistently been unsuccessful in either changing local taste buds or adapting themselves to local palate… Continue reading How to (Not) Fail in ASEAN
Business Etiquette Introductions – If you’re the visitor, it’s customary to offer your business card first. Be aware, however, that you may not get one in return if your rank isn’t comparable to or higher than your Filipino recipient. As with other Asian cultures, business cards are presented face up with both hands. When you receive… Continue reading Business Etiquette
Digital Economy Digitization is becoming the key to unlocking economic growth in the 21st century’s innovation era. Thus, Philippines’ performance in the global race for economic supremacy will be determined by its ability to foster innovation and develop digital capabilities. Tremendous progress has already been made in this regard, metrics of which are as follows:… Continue reading Digital Economy
Foreign Direct Investment FDI by sector -The Economist Intelligence Unit estimates that foreign direct investment (FDI) to the Philippines was $6 bn in 2020. As revealed in chart 1, foreign interest in the Philippines’ manufacturing sector is so very keen that all other sectors seem to be dwarfed in comparison, and as such, the Philippines could… Continue reading Foreign Direct Investment
Taxation Structure Corporate Income Tax (CIT) – Foreign corporations engaged in trade or business in the Philippines through a branch office are taxed in the same manner as domestic corporations, but only on Philippine-source income. The framework of the standard taxation rates levied on foreign companies is presented in the table below: It is important to note,… Continue reading Taxation Structure
Ease of Doing Business and Corruption Ease of Doing Business Ranking –– The Philippines’ performance in the World Bank’s Ease of Doing Business Index falls short of desirable standards, leaving significant room for improvement. The chart below showcases the ranks of five major ASEAN economies in this index with the size of each bubble varying in… Continue reading Ease of Doing Business
Government Structure and Society The Philippines is a republic with a presidential form of government wherein power is equally divided among its three branches: executive, legislative, and judicial. The Legislative branch is authorized to make, alter, and repeal laws through the power vested in the Philippine Congress. This institution is divided into the Senate and the… Continue reading Government & Society
Demographic Advantage Population – As the second most populous country in ASEAN, Philippines’ population exceeded 110 million people in the year 2020. This also made Philippines one of the most populous countries in Asia, and in doing so, afforded it a launch pad for future economic growth. The growth of the country’s population, however, has been… Continue reading Demographic Advantage
