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Global Contact Information

We have offices across the globe. Please ensure that you are getting in touch with the correct office for your region.

United States

Woodbridge, NJ (Global HQ)

90 Woodbridge Center Drive

Suite 360

Woodbridge, NJ 07095

Tel: 1-732-739-2330

Fax: 1-732-739-1996

Philippines

Metro Manila

8th Floor Room 801, Raffles

Corporate Center

Emerald Ave., Ortigas Center

Pasig City, Metro Manila 1605

Malaysia

Kuala Lumpur

Level 1 & 2, Tower 3, Avenue 7

Horizon 2 Bangsar South City,

Bangsar South, 59200 Kuala

Lumpur, Wilayah Persekutuan

Kuala Lumpur, Malaysia

China

Beijing

Rm 2201, South Tower, Soho

Shangdu Dongdaqiao 8th Road

Chaoyang District 100020

Tel: +86 10 5878 0578

Fax: +86 10 5878 0568

Qingdao

Room 2101, Peninsula

International Building,

182-8 Haier Road, Qingdao,

Shandong 266000

Tel: +86 532 68669385

Fax: +86 532 68669385-8610

Shanghai

Unit G, H, 18th Floor

Shanghai Industrial Building

18 Caoxi North Road

Xuhui District, Shanghai 200030

Tel: +86 21 64270570

Fax: +86 21 64270570-8530

Chengdu

26th Floor, Building 2 Xiang Nian Plaza Fifth Jitai Road

Gaoxin District, Chengdu, Sichuan China, 610041

Tel: +86 21 64270570

Fax: +86 21 64270570-8530

Wan Chai, Hong Kong
(EA Licence no. 62905 & 61979)

5/F Heng Shan Centre

145 Queen’s Road East

Wan Chai

Tel: +852 3622 3225

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United States
Philippines

What Companies Need to Know About Investing In The Philippines

July 21, 2020

The Philippines has a large English-speaking population, relatively simple customs, and abundant human resources. Moreover, the wages of engineers and manufacturing workers in the Philippines are relatively low, which has a strong “cost competitiveness” compared to others in the market.

In addition, compared with Thailand, Vietnam and other ASEAN neighbors, the cost rise of the manufacturing industry in the Philippines is more stable. For example, the annual wage increase in Vietnam is about 7%, while in the Philippines this comes to about 4.6%. The relatively low labor cost and high-quality labor force in the Philippines create a suitable “business environment.”

Good investment

China and the Philippines have a long-standing relationship which allows for business opportunities to be streamlined. From 2019 to April of 2020, China became the Philippines’ largest export market, occupying approximately 26.85% of its market share; at the same time, China is also the Philippines’ largest import supplier in the same period, occupying approximately 23% of its market share. During the epidemic, the Philippines did not impose import and export restrictions and required legislation to support the passage of relevant economic stimulus measures, such as the “Business Recovery and Enterprise Tax Preferences Act” and the “Philippines Economic Stimulation Act” which promoted the rapid economic and business development. This recovery response has helped maintain a good business environment.

Investment Priority Plan

To invest in the Philippines, companies must understand the country’s preferential policies. The Philippines government will formulate an “Investment Priority Plan” every year, listing the areas that are encouraged to invest and the preferential recommended conditions, this includes guiding domestic and foreign investment in industries designated by the government. Incentive measures include income tax reduction, exemption of import terminal taxes, exemption of export taxes and fees, etc. ——This is of great significance for Chinese enterprises to invest in the Philippines.

What should I pay attention to when investing in the Philippines?

With the development of the “Belt and Road” the trade and investment exchanges between Chinese enterprises and other countries have been enriched. For companies, it is important to understand the customs and regulations of the other country. Here, Comrise reminds companies from China that in order to invest in the Philippines they need to pay attention to the following points:

1. There are many islands in the Philippines, and there are certain differences in culture and religious beliefs. Making full and effective use of local human resources on the basis of respecting the culture and traditions of various parts of the Philippines is something that Chinese companies must know about their employment in the Philippines.

2. No matter where you go to do business in any country, it is very important for an enterprise to understand the laws, regulations, and related policies of local employment. Companies often cause a lot of trouble because of a small “violation”. Of course, many companies do not deliberately violate laws and regulations, but lack the “basic common sense” of local laws and regulations-especially those companies that do not have “legal consultants”. The relevant laws in the Philippines are relatively sound, and Chinese companies must have a good understanding of doing business in the Philippines.

3. The Philippines pays attention to environmental protection and has stricter requirements for certain industries. Therefore, Chinese companies must pay attention to the requirements of relevant laws and regulations when investing in the Philippines.

 

Want to learn more about Comrise global offices and services in the U.S, Philippines, China, and Malaysia? Visit our LinkedIn page or browse our service offerings.

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