Background
The Philippines were ceded by Spain to the US in 1898 following the Spanish-American War. They attained their independence in 1946 after Japanese occupation in World War II. The 21-year rule of Ferdinand MARCOS ended in 1986 when a widespread popular rebellion forced him into exile. In 1992, the US closed its last military bases on the islands. The Philippines has had two electoral presidential transitions since Marcos' removal by "people power." Benigno AQUINO III was elected to a six-year term as president in May 2010.
Philippine GDP grew 7.3% in 2010, spurred by consumer demand, a rebound in exports and investments, and election-related spending. The economy weathered the 2008-09 global recession better than its regional peers due to minimal exposure to troubled international securities, lower dependence on exports, relatively resilient domestic consumption, large remittances from four- to five-million overseas Filipino workers, and a growing business process outsourcing industry. The service sector contributes more than half of overall Philippine economic output, followed by industry (about a third), and agriculture (less than 20%). Important industries include food processing; textiles and garments; electronics and automobile parts; and business process outsourcing. Most industries are concentrated in areas around metropolitan Manila. Mining has great potential in the Philippines, which possesses significant reserves of chromate, nickel, and copper. Significant offshore hydrocarbon finds have added to the country's substantial geothermal, hydro, and coal energy reserves.
Holidays
Jan 1 - New Year's Day
Feb 22 - EDSA Revolution Day (People's Power Day)
Mar 24* - Maundy Thursday
Mar 25* - Good Friday
Apr 9 - Bataan Day (Day of Valor)
May 1 - Labour Day
Jun 12 - Independence Day(from Spain, 1898)
Jun 24 - Manila Day
Aug 31 - National Heroes' Day
Nov 1 - All Saints' Day
Nov 30 - Bonifacio Day
Dec 25 - Christmas Day
Dec 30 - Rizal Day
Dec 31 - New Year's Eve Bank Holiday
Ps: These festivals' dates(*)given above are approximations which are subject to change every new year. Besides, "Easter" is a major holiday in the Philippines and travel may be disrupted.
Phone Codes
Country Code: 63
Outgoing International Code: 00
Resources
Market Research
PEZA, Philippine Economic Zone Authority
Government corporation taking charge of the establishment of environment-friendly economic zones for foreign investments; site provides information of each economic zone all over the country such as location, PEZA firms and registration procedures.
National Economic and Development Authority
Official site for government's economic policies, national and regional economic indicators as well as regional economic cooperation in ASEAN and APEC.
Philippine Business
Portal to the Philippine business community providing news and updates on the Philippine business and economic scene, economic indicators, guide to legislation, pertinent rules and regulations for doing business in the Philippines and specific regions and provinces, directories of businesses, government agencies, publications and reports.
CIA - The World Factbook - Philippines
This website indicates a wide range of detail information about Philippines by introducing under 8 different fields as its geography, people, government, economy, communications, transportation, military, transnational issues.
About Philippines
There is available to find out Philippines general outlook on the issues of its social and business profile, passport/visa, money, accommodation, government, duty free, health and so forth.
|
