Benefitting from decades of investment and rising investor appetite for manufacturing projects, economic zones in the Philippines have risen to become an important export promotion tool and investment destination. Economic zone growth has soared in recent years, with the government’s Investment Priorities Plan, approved in 2017, offering...
What are the next steps to accelerate the transition into a digital financial system?
Rapid macroeconomic growth has worked to strengthen trade and investment in the Philippines. Build, Build, Build (BBB) – the government’s infrastructure development agenda – is supporting soaring imports, while the fast-growing manufacturing export base remains an economic mainstay. However, export revenue has failed to keep pace with import...
With GDP growth averaging 6.4% between 2010 and 2017, the Philippines is one of the top-performing economies in South-east Asia. Underpinned by its robust services sector, it is seeing rising investment in manufacturing, strong remittance inflows from overseas workers and an infrastructure spending surge under the Build, Build,...
In late 2017 the Philippines reached a major reform milestone when President Rodrigo Duterte officially approved the first of five Tax Reform for Acceleration and Inclusion (TRAIN) packages. These initiatives are set to lower personal income taxes, expand the value-added tax (VAT) base, and increase taxes on petroleum products,...
Over a decade of robust macroeconomic expansion has driven the Philippines to the forefront of regional economies, with personal consumption driving GDP growth and a swelling middle class expected to attract foreign investment in the coming years. However, despite a strong emphasis on poverty reduction and income equality in...
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