The Philippines is one of the fastest-growing emerging markets and is seen as one with a lot of potential. It is a newly industrialised economy and continues to transition from a primarily agricultural base to one focused on services and manufacturing.

There has been an emphasis on improving the investment climate and sustaining economic growth. These efforts have included opening new sectors of the economy to foreign investment, eliminating some restrictions on foreign ownership, and permitting complete foreign ownership of renewable energy companies.

The population of the Philippines has surpassed 115 million with demographics here skewing younger. This differs from other countries in Asia, where aging societies may create issues with workforce size in the near future. The country continues to be a hub for outsourcing.

The business environment in the Philippines is improving while special economic zones have been set up to allow firms to avoid bureaucratic pain points. A government push to further eliminate red tape and improve the ease of doing business remains ongoing.

With a growing economy and government support, the Philippines is an attractive destination for investment. Asian Insiders stands ready to advise and assist in efforts to expand into this potential-ladened market.