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
Historical Background Like many Asian countries, the history of Philippines is clouded with colonisation and the country has suffered through centuries of external rule, first at the hands of the Spanish and then under fist of the United States. The tumultuous journey travelled by the archipelago has moulded in it a unique culture and sense… Continue reading Historical Background
COUNTRY HIGHLIGHTS Philippines > Country Highlights COUNTRY HIGHLIGHTS ABOUT PHILIPPINES Map of Philippines Geography An island country consisting of >7,600 islands. Total Land Area300,000 sq km/120,000 sq mi Three Main Geographical DivisionsLuzon, Visayas, Mindanao Capital Manila GDP in US$ (Billion) Global Ranking (2021) 37 Economy Currency Philippine PesoPhp 52.38/US$ (April 30, 2022) Major Economic… Continue reading Country Highlights
