Recent reports of the rapid growth of the economy in the Philippines may translate to more viable opportunities for Filipino investors overseas. Bloomberg reports on the GDP increase of 6.9% in the Philippines in the first quarter and rapid growth that has outdone other nations in Asia. The country’s new president is also making significant changes to support economic growth which means Filipino investors could explore valuable business opportunities in the United States while supporting their own economy. Here are some financial opportunities that may be attracting Filipino investors to U.S. territory:
Startup and Business Kickstart Companies
Startups in the Philippines have an advantage over other countries in Asia because there is minimal competition in the local market, operating costs remain low, and the Philippines is still the fastest growing economy in Asia. U.S. investors may find some of these ventures profitable as tech-based and virtual companies continue to grow and thrive overseas. Filipino investors may look to the U.S. to invest in telecommuting agencies and other resources that would support overseas startup ventures. Some may be interested in funding U.S.-based startups and startup growth accelerators that provide mentorship and rapid growth opportunities for entrepreneurs.
Bio-Fuel and Renewable Energy Companies
PriceWaterhouse Cooper reports foreign investment is welcome in the bio-fuel and renewable energy sector, some of the fastest-growing economic sectors in the Philippines. The Philippine government has a fairly liberal program of incentives to attract foreign capital specifically to support technology. The U.S. is also a powerhouse of biofuel and nonhydroelectric renewable energy sources, providing plenty of opportunities for foreign investors.
The Philippines has a competitive edge in information and communications technology services; many tech-oriented businesses have already established headquarters in the Philippines and international call centers to support these businesses are flourishing in major cities. Foreign investment is encouraged at this time and U.S. investors looking to earn steady returns on their investments will fare well investing in the growth and ongoing operations of information and communications technology services providers.
Conversely, Filipino investors interested in expanding operations or even buying out a company may find their opportunity in the United States. Deloitte reports on mobile connectivity and the Internet of Things (IoT) as the key business drivers in the near future. In addition, telecom companies with plans for expansion are seeking out alliances and partnerships.