I have chosen the Philippines as the country of operations for my automotive parts sales and export business. First a little history, the Philippines was a vital trading center for the Spanish from 1521 until 1898, after which it became an American colony. The Philippines became independent in 1946, and is the third largest English-speaking country in the world.
The country's economy has showed resiliency amidst the Asian financial crisis, and is boosted mainly by its export-oriented manufacturing sector, particularly in electronics and automotive parts. The creation of export processing zones, including the former United States bases in Subic and Clark, has facilitated a rise in foreign direct investment. The Philippines has pursued a policy of economic liberalization in the past decade, which has resulted in the liberalization of its retail trade, telecommunications, banking, mining, oil sector, and more recently its power sector.
The Philippine government is currently implementing reforms to strengthen its economy.
It has recently enacted the Optical Media Act that strengthens intellectual property rights protection, and has advanced the government-wide use of the e-procurement system to promote transparency in government purchases. It has strengthened its regulations in the banking sector, and is undergoing fiscal consolidation through the strengthening of the tax base and tightening of spending, in line with its Medium-Term Development Plan.
Ford Group Philippines announced plans to hire more workers by August. Since this growth will most likely boost the business of its suppliers, a total of 1,200 potential new jobs is expected be created.
This was revealed by Henry Co, Ford Group Philippines president, in an exclusive interview with the Manila Ti ...