Seminar on Doing Business in the Philippines on Wed., 24 July 2013
Posted on Monday, 8 July 2013
The Singapore Manufacturing Federation (SMF) is inviting clients, suppliers and business associates to come and learn how to do business in the Philippines, in a seminar that will be held on Wednesday, 24 July 2013, at 2:30pm at the SMF House.
Seminar on Doing Business in the Philippines – Opportunities in the Growing Economy
Date: Wednesday, 24 July 2013 Time: 3:00 – 5:30pm
Venue: 2985 Jalan Bukit Merah, Level 2 Auditorium, Singapore 159457
Cost of Participation: Complimentary
The economic growth of the Philippines has stood out recently with a 7.8% growth in 1Q-2013 exceeding all the highest forecasts and projections, and well above the country’s trend growth. The Manufacturing and Construction sectors grew 9.7% and 32.5% respectively – showing that investors are putting their faith in the Philippines for the long term.Other significant growth indicators include capital formation 47.7%,fixed capital 16.8%, private construction 30.7%, public construction 45.6% and durable equipment 9.4%, showing increasing productive capacity of the economy, laying the foundations for sustained growth in the future.
The Philippines has also continued to improve in global competitiveness rankings, moving up 10 notches, from 75 to 65, in the World Economic Forum’s survey of 143 countries and 5 notches, from 43 to 38 in the IMD 2013 World Competitive Yearbook.
Investments in Philippine economic zones increased 41.1% in 2011 and 8.2% in 2012. Over the last 18 years, the major investors are Japan (32%), Philippines (21%), US (18%) and Netherlands (10%) mainly in electronics, metal fabrication, IT Services, tourism services and transport.
In 2012, with total trade of US$ 9 billion, Singapore was the 4th largest trading partner of the Philippines. Singapore was also the 4th largest source of approved foreign investments (US$307 million mainly in manufacturing, service activities and construction) increasing by 484% over 2011.
The resurging Philippine economy offers many opportunities for Singapore business and investors particularly with its large domestic market of close to 100 million, its world-class human resources and as a competitive platform for manufacturing in ASEAN.
The main feature of the seminar will be presentations by the Director-General of the Philippine Economic Zone Authority (PEZA), Mme. Lilia de Lima. The other speakers will include Philippine Ambassador to Singapore Minda Calaguian-Cruz, Mr. Glenn Penaranda, Commercial Counsellor of the Philippine Trade & Investment Center, and experts from Kinetica Pte Ltd / Kelvin Chia Partnership.
The seminar is supported by International Enterprise (IE) Singapore and the Singapore Business Federation (SBF).
Please click here for details, programme and registration.