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Doing Business in ManilaOpportunities For Buyers - non-traditional intermediate products and more advanced goods. For Sellers - the region needs capital for its industries, household goods to meet increasing consumer demands, business and professional services and technological expertise to support infrastructure projects. For Manufacturers - the region offers a large, generally well educated, cost competitive and skilled workforce. For Investors - with the advent of trade liberalization, greater foreign ownership is accepted in many sectors particularly in wholesale/retail trade and build-operate transfer schemes in the utilities sector. Reasons for Doing Business in Metro Manila - The region offers special economic zones as investment sites particularly IT Parks, Industrial Parks and Freeport Zones which are strategically located in the region. - The region boasts of varied opportunities where both business and pleasure can go hand in hand for today's businessmen.>þ It offers a comfortable lifestyle which is preferred by most expatriates. - There is a more liberalized business environment due to various economic reforms implemented. - Availability of skilled, highly trainable and english speaking labor force. - At the crossroads of international shipping and air routes which makes it a perfect position as intermediary between Asia and the rest of the world. - Presence of a Trading "Bagsakan" Center where all sorts of raw materials are available. - Constitute a huge domestic market for modern consumer goods due to its large population. - Seat of the National government, presence of training facilities, educational institutions. Business Hours Most businesses are open from 8:00 AM to The post offices are open from 9:00 AM to NOTE: The Standard lunch hour is Foreigners interested in setting up in any of the EPZs can register at the: Philippine Economic Zone Authority (PEZA) Export Processing Zones in the Philippines - Bataan Export processing Zone, Mariveles, Bataan - Baguio City Export Processing Zone, Loakan Road, Baguio City - Mactan Export Processing Zone, Lapu-lapu City, Mactan Cebu - Cavite Export Processing Zone, Rosario, Cavite Some private industrial estates have been designed Special Export Processing Zones in line with the government's aim to become a world-class investment center. Locating in an Export Processing Zone Businesses qualified for Philippine Economic Zone Authority (PEZA)
incentives: Ownership Foreign investors are allowed 100 percent ownership in export enterprises if these do not fall within any of the products and services below: - defense products - the manufacture and distribution of dangerous drugs - operations in gambling; nightclubs, bars, beerhouses, dance halls; sauna and steam bathhouses, massage clinics and other similar activities regulated by law Foreigners are also allowed to set up a small and medium-sized enterprises (SMEs) with a minimum paid-in capital of $100,000 provided that: - They use advanced technology as determined by the Department of Science and Technology or - Employ at least 50 direct employees Otherwise, SMEs with paid-in equity capital less than the equivalent of $200,000, are reserved to Philippine nationals. The 100 percent foreign ownership is allowed provided that all of production in the zones is exported. In some cases, on the approval of the PEZA, 30% of the products can be sold locally. Incentives for Export and Free Trade Enterprises - Corporate income tax exemption for 4 to 8 years; Employment of foreign nationals; - Additional deduction for labor expense (50 percent of wages corresponding
to increment in number of direct labor subject to certain
conditions); Contacts Investors who want to avail incentives can file an application with the Board of Investments (BOI). The certificate of registration must be filed with the Securities and Exchange Commission (SEC) or the Bureau of Trade Regulation and Consumer Protection (BTRCP). These offices are located at the following addresses: Board of Investments Securities and Exchange Commission Bureau of Trade Regulation and Consumer Protection |