As a part of the global value chain, the Philippines supplied critical products’ key components during the pandemic. The country also serves as host country, especially for producing various medical products, devices and supplies. Various investment opportunities Philippines await for investors.
The Philippines investment locations provide a host of programs that are sustainable and designed to enhance the business productivity and competitiveness of the investors. A lot of foreign companies now choose the Philippines to invest in.
Conducting Various Types of Philippines Market Research
Before entering the Philippines market, you need to conduct market research. Without conducting market research, you will only rely on anecdotal information and instinct in order to make your business decisions. Anecdotal information will not give you accurate information.
Market research involves two different types of research. Field research is the primary research that needs to be conducted. This kind of research involves different activities such as gathering brand new, first hand data that has never been collected before.
And then there is secondary research that is also known as desk research. This research involves gathering the data that has been compiled and specifically organized. This data includes government funded studies, reports, textbooks, statistical databases, and historical records.
Investment Opportunities Philippines in Telecommunications Industry
DICT or Department of Information and Communications Technology along with DPWH or Department of Public Works and Highways as well as some other government agencies are now expediting the ICT (information and communication technology) deployment strategy and infrastructure.
This program includes the deployment of additional equipment, cell towers, wireless technologies and software. To make the program run successfully, the government suspended the requirements for clearances and securing permits for the construction of internet and telecommunications infrastructure.
The suspension is temporary. The government also streamlined the regulatory processes as well as the procedures so that the infrastructure of the internet, digital, and satellite technology can be improved. ICT is a wide open investment opportunity for foreign investors.
The Philippines’ Architecture and Engineering Sectors
The sector of engineering design in the Philippines offers a huge number of services, especially for foreign companies outsourcing to this country. The services include architecture, structural design assistance, and civil engineering.
The growth of this sector can be connected to the similar development trend in closely related companies like the real estate and construction industries. Some foreign companies are now using the resources and talent of the Philippine for various purposes such as core research.
Those companies also utilize the resources and talents for some other purposes like product development, critical construction projects, procurement procedures, and planning. Every single year, more than 62,000 English proficient and IT enabled graduates integrate into the workforce.
Various Sectors to Invest In
Some other opportunities are available in the country, including the MRO Service sector (Maintenance, Repair, and Overhaul), franchising sector, and also fresh food and processed food. Once you are done conducting the market research, you will be able to enter the market successfully.
–Various investment opportunities Philippines can be chosen. But it doesn’t mean every foreign investor can just enter the market. Get the best team that is going to conduct the most accurate market research to lead you to success in the Philippines.