The Asia-Pacific is among the hottest economic regions today, thanks to a very dynamic consumer market. Industrial-commercial hubs have sprouted in several countries there but many are choosing to open a business in Philippines.
Global enterprises that need to expand and foray in the growing Asia-Pacific zone are looking to anchor the bulk of offshore operation in the politically and economically stable country. For the past years, the Philippines offer the most up-to-date technological infrastructure that can leverage long-term operation. For global companies that plan to open a business, Philippines offers both large corporations and SMEs a jump-off point to the rest of the region.
To date, the archipelago nation is major hub for offshore BPOs and KPOs. This is one major reason for large corporations to set up auxiliary businesses and SMEs to jump start operations using modest budgets. The democratic republic has for a long-time underscored the importance of foreign investment as key to its rise as an economic somebody in the region and to help stimulate the local business and stoke GDP growth.
Given that there is an excess of skilled and educated manpower in the Philippines, incorporation plans by foreign businesses planning to set up shop in the area are easily done. As an example, the business acumen of many Filipinos and their hardworking characteristics contribute greatly to the success of international business process outsource or BPO agencies. They are also keenly attuned to developments in the European, North American, and Asian countries. They speak very fluent business English.
The local government also encourages foreign enterprises to move their operations in Asia by setting up business-friendly statutes, including tax breaks. Collaborations between local and foreign private and public entities are encouraged. This synergy has led to the creation of many business parks. Most of these districts are very cosmopolitan and are located within or near central business districts such as Makati, Subic, Taguig, and Laguna.
The Philippines is known as a very hospitable and foreigner-friendly nation, a trait that they willingly extend in business and financial circles. It has many public and private agencies that can provide assistance during the critical time when an organization is just starting a business.
There are a number of private consulting agencies that can offer comprehensive business development services. These firms can help find the most strategic locations and staff. They can easily prepare a functioning office to help businesses ease in and get comfortable to the local setting. Further, they can also assist in critical business development planning and can even secure the initial clients or partners.
Most consultancies can assist in business registration and can secure the available tax incentive programs too. They also offer visa processing services that will allow foreign staff to quickly settle in and legitimize their stay in the country.
The financial and social environment is very dynamic in the Philippines. Incorporation, mergers, and other business plans can be easily accommodated. Enterprises expanding to Asia may appreciate the advantages that the country possesses, including but not limited to talented people, strong infrastructure, and high-quality customer services.