Doing Business in the Philippines
Understanding the business environment of a country is one of the first steps an investor, an entrepreneur, or a legal entity has to take in order to assess the viability of setting up or expanding a business outside its headquarters’ territory. It is crucial to identify if the opportunities present in the market are supported by entities, systems, and mechanisms which make doing business in the country easier compared to other locations in the region.
Kittelson & Carpo Consulting and Carpo Law & Associates, in partnership with the British Chamber of Commerce Philippines, brings you “Doing Business in the Philippines”. This covers discussions on how new updates and issuances from the SEC, PhilHealth, and BIR will affect current business operations, as well as projections on how the newly implemented TRAIN Law will channel favorable changes in the current Philippine business climate.
The Philippine pharmaceutical market is similar to China and Iran. But according to investphilippines.gov.ph the overall market is comparable to Pakistan, Thailand, Taiwan and Indonesia in per capita, and is “consistently ranked as the 11th most attractive pharmaceutical market in the Asia-Pacific region, and the third largest market in ASEAN, the Association of Southeast Asian Nations, after Indonesia and Thailand.”
The term ‘location, location, location,’ applies to where you decide to put your office. Metro Manila, the capital of the Philippines is home to several business districts: Makati, Bonifacio Global City, and Ortigas being the main hubs. Choosing a location is the most important factor when starting your business in the Philippines. Determining the best area for your organization is key for your employees alleviating them from the congestion of the entire city.
The Philippine economy looks robust with two of its cities crashing into the top 10 of the Tholons Top 100 Outsourcing Destinations for 2014. Since its opening, the IT-BPO market in the Philippines has demonstrated great potential to become a global leader by leveraging a world-class workforce. The country’s I.T. Business Process Association of the Philippines or iBPAP, along with other local government agencies, promotes the industry, in part through campaigns designed to develop IT-BPO capabilities in additional hub cities.