Bandar Seri Begawan - The Philippines is located right in the heart of Asia and is the fastest growing region today. It is located within four hours flying time from major capitals in the region.
The Philippines is the third-largest English speaking country in the world, enabling its manpower to have a unique edge over neighbouring countries in terms of labour quality.
Its workforce is easily trainable and generally skilled. Flanked by the Pacific Ocean and the South China Sea, its strategic location makes it a critical entry point to some 500 million people in the Asean market - offering vast trade opportunities - and an ideal base for business.
It is also the best Asian country in terms of overall quality of expatriate life, considering its cultural compatibility with expatriates, housing, sporting and recreational facilities, quality healthcare, and first-rate educational institutions. Being an archipelago, the Philippines has a lot to offer in terms of natural resources. Its 7,100 islands boast numerous white and black sand beaches, making it eminently attractive to vacationers and tourists. Its amazing marine biodiversity affords abundant species of flora and fauna.
Land-wise, it is also among the biggest producers of copper and gold in the world.
An open economy, like the Philippines, allows 100 per cent foreign ownership in almost all sectors and supports a Build-Operate-Transfer (BOT) investment scheme that other Asian countries emulate. Government corporations are being privatised and the banking, insurance, shipping telecommunications, and power industries have been deregulated.
Incentive packages include the corporate income tax, reduced to a current 32 per cent, with companies in the Special Economic Zones (ecozones) subject to only 5 per cent overall tax rates. Multinationals looking for regional headquarters are entitled to incentives such as tax exemptions and tax and duty-free importation of specific equipment and materials.
On November 24, Primeland Estate Agency, as the sole marketing agent in Brunei, will be holding the Trump Tower Manila Property launching, located at the Century City, Philippines at the VIP Hall, Level 4, Rizqun International Hotel in Gadong, from 10am to 6pm. The developer from Century Properties will have a free presentation on the Philippine market updates and property overview.
--Courtesy of Borneo Bulletin