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From news on politics to updates on infrastructure projects, KMC MAG Group sums up the latest events in the Philippines in this week's infographic. If you are thinking of moving your business and living in this country, this post should be able to help you out.
- The current administration's fight on corruption seems to be moving along very well. In fact, a special group has already been created to specifically reduce red tape and encourage ease in tax payment -- something that many businesses in the country has always complained about.
- Philippine economy sustains its 7-percent growth streak, closing the second quarter with a 7.5% GDP growth. This creates a better outlook for investors in the country as well as from different economic organizations such as ING, ANZ, and Standard Chartered.
- The property and construction boom in the Philippines is likely to last for a few years, proven by its high investment growth of 15.1% last year. This is also driven by the need to construct commercial and office spaces for lease in major CBDs, Fort Bonifacio and Makati.
- This growth is driven by continued increase in foreign investments due to the improving business environment and strong investor interest.
- Aside from this, high remittances from OFWs and stable inflation support the country's fundamentals, creating an environment for economic stability.
- The surge in construction investments is also brought about by the government's spending on infrastructure to cater to the needs of the economy.
For more information about real estate investment, the Philippine economy, and moving or expanding your business in the country, contact KMC MAG Group today.