During 2016 the Philippines is one of the investment friendly country and a good player when it comes to the Economy. I've discovered that the 14% of the income came from the Filipino who lives and work abroad to provide for their families. I am happy to know that the Philippine Economic Growth that years and in the past few years have been positive. That's only mean that the Philippines can be globally competitive. But as the population are still growing a lot of opportunities are needed to be met and some of those are housing, education, transportation and Telecommunication. And the saddest truth is through those years the rate of poverty here in the Philippines are still unchanged.
I’ve also learned that when you want to enter the Philippine Market the first thing that you should do is to know and study the market for you to be able to meet the other players that is prospected as your competitors or maybe it will be one of your partners in the future. And because of the limited resources the Philippines are always welcome for the international partnership. The local government of the Philippines gives a good value to the corporate citizens. Because of being good at speaking in English and a skilled Filipino worker some of the international businesses choose the Philippines to be one of their partners or one of their chosen markets.
Characteristics of Philippine Political, legal and socio-cultural?
The Philippines is a presidential government republic where authority is distributed equally among its three branches: executive, legislative, and judicial. The government aims to act through this mechanism of check and balance in the best interests of its people. The theory of division of powers under which law belongs to Congress, execution of the Executive, and resolution of legal conflicts with the Judiciary is one fundamental corollary in a presidential form of government. Through the authority vested in the Philippine Congress, the Legislative branch is empowered to make laws, amend and revoke them. The Senate and the House of Representatives are split into this body. The Executive Branch consists of the President and the Vice President, elected by direct popular vote and served a six-year term. The Constitution gives authority to the President to select his Cabinet. These departments form a large portion of the bureaucracy of the country. The judicial branch has the authority to resolve conflicts surrounding rights that are constitutionally demandable and enforceable. This division decides whether or not there has been a significant violation of authority that amounts to a lack or excess of regulatory jurisdiction and instrumentality. It consists of the Supreme Court of Justice and the lower courts.
A blend of customary usage, Roman (civil law) and Anglo-American (common law) systems, and Islamic law is the Philippine legal system. The legal framework is the product of the fourteenth-century immigration of Muslim Malays and the subsequent occupation of the islands by Spain and the United States. Civil law works in areas such as family relations, land, inheritance, contract and criminal law, while in areas such as civil law, procedure, corporate law, taxes, insurance, labor relations, banking and currency, statutes and rules of common law origin are apparent.
Philippine law's primary sources are: The Constitution - the land's basic and sole rule Statutes, including Acts of Congress, Municipal Charters, Municipal Codes, Rules of Justice, Rules and Orders of Government, Statutory Rules, and Presidential Matters. Treaties and conferences - they have the same strength of power as rules. Judicial decisions - Article 8 of the Civil Code specifies that 'judicial decisions concerning the implementation or interpretation of the laws or the Constitution form part of the Philippine legal system.' Only the Supreme Court's judgments define jurisprudence and are binding on all other courts.
Customary law also forms part of the Filipino legal system to some degree. According to Article 6(2) of the Constitution, 'the State shall recognize, support and protect the rights of indigenous cultural groups to maintain and establish their cultures, traditions and institutions.'
The Way of Life of the Philippines One of Filipino society's most notable features is its close relationships between family and community. These are reinforced by the conventional Filipino notion of "Utang na loob " of the Philippines, in which an act of voluntary assistance establishes a duty that the recipient must strive to compensate through mutual assistance. This also establishes a long-term link between giving and receiving between Individuals or families, even for centuries, certain responsibilities will last. The social ideals of allegiance, support and faith are profoundly rooted in the identity of the Philippines. Respect for others, especially senior members, from an early age, society and individuals in positions of authority are educated.
Houses are typically built of bamboo and nipa palm thatching in Philippine villages, and raised on poles above the ground. It is also common to have simple wooden houses with galvanized iron roofs. With the exception of in the Rural houses in rural areas are fitted with electricity and indoor plumbing. In towns and cities, more services and modern facilities are available. In urban areas, the influence of Western culture is more apparent, Lifestyles appear to be more western in such areas.
The main occupations in rural areas are agriculture, fishing, and forestry. As tenant farmers and landless farm workers, many of the rural poor are employed. The majority of urban people are working in the service. Industry or in development. There is a rising middle class of government workers, teachers, and owners of small businesses.
Is it advantage, disadvantage or opportunity?
Doing Business in the Philippines can be advantageous, disadvantage and opportunity in different aspects. For this year’s Philippine Economy was in a not so good situation. It is slowly dropping. So, it can be an advantage to build a business because the salary of the workers is lower than the usual. The expense of the workforce will be smaller. But the disadvantage to this is the taxes that will be designated by the government. When it comes to legality, this will be an advantage because one of the business requirements here in the Philippines is to be legal by providing the legal documents that will be issued by the local government. When your company is illegal the government can sue you. So, it is better to build a legal business than to be called illegal. It may take longer because the process is not easy, but it would be worth it. Because buyers will patronize your business when it is legal. The sociocultural is an advantage and an opportunity for us. Because Filipinos are all skillful. We can easily adjust and learn to the new environment. And we are good in learning different languages, especially the English. We can communicate to different people that we encountered.
If I have a given a chance to build a business here in the Philippines, I would take it. Because Philippines are a good market. Even if the Filipinos don’t have enough money for their selves and for their family, they would still buy the things they really wanted even if it is not what they are needed. Building a business is not easy. As a CEO you need to take some risk that will help the business to be successful someday. Failures are common in every business because it will always be a part of it. If your business never fails, it only means that your business is far to success.
