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| Philippine Trade & Investment Center - Silicon Valley: Opening doors of opportunites in the Philippines |
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The Philippine Trade and Investment Center-Silicon Valley’s (PTIC-SV) mission is to generate income, employment and foreign exchange for the people of the Philippines through the promotion of the nation’s exports of products and services. Attracting US investments in the most productive and viable sectors of the Philippine economy, and the provision of necessary commercial and market intelligence and policy representation in the United States that provides the necessary basis for the achievement of such promotion objectives.
Headed by Trade Commissioner Maria Roseni Alvero, PTIC-SV provides a full range of trade and investment services, from economic information service, referrals to US buyers, prospective buyers, Philippine suppliers of goods and services, business matching, organizing trade and investment missions between the Philippines and the US, among others.
Why invest in the Philippines?
The Philippine economy has remained stable over time, with a 5.1 percent GDP in 2006 to a 7.2 percent GDP for 2007. One of Asia’s best performing currencies, the Philippine peso’s 6-year high is bolstered by OFW remittance, exports and portfolio investments. The improved investment flows reflects the continued investor confidence. According to the 2007 Grant Thorton International Business Survey Review, the Philippines ranks second among 32 economies in level of business confidence.
Strategically located in Asia, the Philippines is a regional hub for logistics and has a good access to the Asean market. Also, there is an abundant supply of quality human resources, who are highly educated, English proficient and highly adaptable to universal cultures.
Aside from these, attractive investment incentives are offered like 4 to 8 years income tax holiday, tax and duty exemptions on imported capital equipment and employment of foreign nationals among others.
Finally, the hospitable lifestyle in the Philippines makes it expatriates’ top choice for quality of life, with its friendly people, value-for-money housing, modern recreational facilities and first-rate educational institutions.
Investment opportunities
Investment opportunities in the Philippines are available to almost every industry sector. Information and communications technology (ICT) covers contact centers, BPOs, software development, data transcription, engineering and architectural designs and even animation.
In Health and wellness, the development of medical zones, hospitals, retirement villages and nursing homes and spas has made the Philippines big in the medical tourism industry.
Agri-business also presents opportunities, in the commercial production and processing of agricultural and fishery products including their by-products and wastes.
In the electronic industry, the Philippines remains competitive, supplying 10 percent of the world’s supply of semiconductor manufacturing services and 50 percent of 2.5” HDD and 10 percent of 3.5” HDD, working with top companies like Intel Phils., Texas Instruments Phils., Philips, Hitachi Ltd., Fujitsu Product Corp and Toshiba Phils.
Tourism has always been a top investment opportunity in the Philippines, having world-class tourist destination, accommodation facilities, tourist estates and historical-cultural heritage projects.
Other investment opportunities in the Philippines include jewelry and fashion garments, mining, motor vehicles, energy, infrastructure and shipbuilding/shipping.
For more information about PTIC-SV and investment opportunities in the Philippines, contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it or log on to www.philippinecentersf.com/trade.
*Based on facts and figures given by the Philippine Trade and Investment Center-Silicon Valley. (www.asianjournal.com)
(Published October 24, 2008 p.SF2 NC)
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