DTI Singapore Commercial Counselor Cynthia Ricafort delivered a talk today on “Doing Business in the Philippines” at an investment seminar organised by Raja & Tann Asia.
On her presentation, Ms. Ricafort highlighted the continuous surge in the manufacturing industry in the Philippines where it is experiencing an average annual growth of 7.6% since 2010, making Philippines the best country to invest in manufacturing.
Aside from investment opportunities in manufacturing, electronics, aerospace, IT/BPO, healthcare and tourism, Ms. Ricafort stressed that infrastructure is also another fast-growing industry in the country which demand foreign investments as the government’s “Build, Build, Build” program is in a full swing.
Furthermore, Ms. Ricafort mentioned the government’s effort to protect the interests of foreign investors with the implementation of R.A. 11032 or the Ease of Doing Business Act which simplifies and shortens the business processing in the country.
Also present in the seminar are Philippine Embassy in Singapore Ambassador Joseph Yap who delivered the welcome address, Enterprise Singapore Deputy Director for Southeast Asia Mr. Chew Hwee Yong who gave a talk on the services of Enterprise Singapore to Singapore businesses wanting to go international, and partners from C&G Law Office in Manila - Atty. Albert Vincent Yu Chang and Atty. Annalisa Carlotta who both provided an overview of the legal aspects of doing business in the Philippines.♦
Date of Release: 19 October 2018